stats
globeinteractive.com: Making the Business of Life Easier

   Finance globeinvestor   Careers globecareers.workopolis Subscribe to The Globe
The Globe and Mail /globeandmail.com
Home | Business | National | Int'l | Sports | Columnists | The Arts | Tech | Travel | TV | Wheels
space



Search


  This site      Tips

  

  The Web Google

  





  Where to Find It


Breaking News
  Home Page

  Report on Business

  Sports

  Technology

space
Subscribe to The Globe

Shop at our Globe Store


Print Edition
  Front Page

  Report on Business

  National

  International

  Sports

  Arts & Entertainment

  Editorials

  Columnists

   Headline Index

 Other Sections
  Appointments

  Births & Deaths

  Books

  Classifieds

  Comment

  Education

  Environment

  Facts & Arguments

  Focus

  Health

  Obituaries

  Real Estate

  Review

  Science

  Style

  Technology

  Travel

  Wheels

 Leisure
  Cartoon

  Crosswords

  Food & Dining

  Golf

  Horoscopes

  Movies

  Online Personals

  TV Listings/News

 Specials & Series
  All Reports...

space

Services
   Where to Find It
 A quick guide to what's available on the site

 Newspaper
  Advertise

  Corrections

  Customer Service

  Help & Contact Us

  Reprints

  Subscriptions

 Web Site
  Advertise

  E-Mail Newsletters

  Free Headlines

  Globe Store New

  Help & Contact Us

  Make Us Home

  Mobile New

  Press Room

  Privacy Policy

  Terms & Conditions


GiveLife.ca

    
rule
space
PRINT EDITION
space
Globe Columnists
Thursday, March 30




  Andrew Willis
spacer
Streetwise



columnist
Biography arrow    

Bucking trend, Teachers makes active investing push space
space
By ANDREW WILLIS
Thursday, March 30, 2017 – Page B1
space
-- In an era when an increasing number of investors are embracing passive investments such as index funds, the Ontario Teachers' Pension Plan is putting its faith in its people by allocating more capital to active investment strategies.  FULL STORY arrow
space

space
Budget miss: What Ottawa should have done space
space
By ANDREW WILLIS
Saturday, March 25, 2017 – Page B1
space
-- The highlight of this week's federal budget might have been Finance Minister Bill Morneau's choice of footwear. He stepped out in new Oxfords from trendy Edmonton-based designer Poppy Barley.  FULL STORY arrow
space

space
Dominion Diamond in play following hostile bid space
space
By ANDREW WILLIS
Tuesday, March 21, 2017 – Page B1
space
-- Dominion Diamond Corp. is expected to attract interest from the world's largest diamond miners after being put in play Sunday by a $1.1-billion (U.S.) hostile takeover proposal from conglomerate The Washington Companies.  FULL STORY arrow
space

space
The runway is clear, but will Ottawa go for an airport sale? space
Morneau and the Liberals have talked about new infrastructure. Institutional investors are ready to provide them billions, in return for a piece of the skies
space
By ANDREW WILLIS
Monday, March 20, 2017 – Page B1
space
-- The federal Liberals have a credibility problem when it comes to their promise to renew Canada's infrastructure: Much talk, no action.Finance Minister Bill Morneau has a chance to fix that perception and put as much as $16billion into government coffers in the budget he is scheduled to table on Wednesday, if he moves forward aggressively with the sale of the country's eight largest airports. The runway is clear. The government is sitting on a privatization plan filed last year by investment bank Credit Suisse. Pension plans and other deep-pocketed investors are lining up to buy these assets.  FULL STORY arrow
space

space
Sprott case raises eyebrows over governance of dual-share firms space
space
By ANDREW WILLIS
Saturday, March 18, 2017 – Page B4
space
-- Money manager Sprott Inc. is attempting the corporate finance equivalent of a Hail Mary pass in its $3.1-billion (U.S.) hostile bid of rival Central Fund of Canada Ltd.  FULL STORY arrow
space

space
Valeant shows the dangers of hedge-fund hotels space
space
By ANDREW WILLIS
Wednesday, March 15, 2017 – Page B1
space
-- Trading desks have a name for stocks like Valeant Pharmaceuticals International Inc.: They call them hedge-fund hotels. And to mangle a line from the Eagles, at a hedge-fund hotel, you can check out any time you like, but it sure hurts to leave.  FULL STORY arrow
space

space
Will made-in-America approach to stock sales catch on in Canada? space
space
By ANDREW WILLIS
Monday, March 13, 2017 – Page B4
space
-- Investment bankers spiced up the finance menu last year by serving up a made-in-America dish for Canadian companies that want to raise money by selling stock.Two successful equity sales - one from Encana Corp. and the other from an investor in Canadian Pacific Railway Ltd. - were done using what's known as a ''block trade'' approach created by U.S. investment banks. In this type of offering, the fees banks receive depend on the final price the shares sell for.  FULL STORY arrow
space

space
Lender of choice: TD builds its patch presence space
space
By ANDREW WILLIS, CHRISTINA PELLEGRINI
Friday, March 10, 2017 – Page B1
space
-- A generation ago, TorontoDominion Bank built a lucrative business as the lender of choice to North American telecom and cable companies.Now the bank, best known for its massive retail branch network, is winning a reputation in Calgary as the go-to lender for ambitious energy companies. TD Securities quarterbacked $9-billion of loans, along with JPMorgan Chase Bank and Bank of Nova Scotia, that allowed Canadian Natural Resources Ltd. to snag Shell Canada Ltd.'s oil sands assets on Thursday and strengthen a Canadian champion in the oil and gas sector.  FULL STORY arrow
space

space
Sprott goes hostile in $3.1-billion bullion bid space
space
By ANDREW WILLIS
Thursday, March 9, 2017 – Page B1
space
-- Money manager Sprott Inc. launched a hostile $3.1-billion (U.S.) takeover offer Wednesday for Central Fund of Canada Ltd. (CFCL), the latest battle in Sprott's two-year campaign to unite rival gold and silver bullion funds.  FULL STORY arrow
space

space
With markets strong, Onex eyes opportunities to cash out space
space
By ANDREW WILLIS
Wednesday, March 8, 2017 – Page B1
space
-- Private equity pioneer Onex Corp. is living the dream these days.After spending the better part of two years hunkered down through what company executives recently described as a ''sluggish'' period for initial public offerings, Onex and its private equity peers have experienced a sea change in market sentiment.  FULL STORY arrow
space

space
Trump's Goldman pair can't pull off a miracle space
space
By ANDREW WILLIS
Saturday, March 4, 2017 – Page B5
space
-- In investment-banking circles, there's grudging respect for the folks at Goldman Sachs. Even arch-rivals acknowledge the Goldman team works hard, and admit Goldman nourishes an enviable partnership culture.  FULL STORY arrow
space

space
Callidus hits back at former executive in legal dispute space
space
By ANDREW WILLIS, CHRISTINA PELLEGRINI
Wednesday, March 1, 2017 – Page B1
space
-- Callidus Capital Corp. is suing a former employee over allegations of misconduct related to loans to three companies that include claims of forged letters and artificially inflated financial results.Toronto-based Callidus lends money to companies that are unable to borrow from traditional lenders such as banks, and has approximately $1.2-billion outstanding on 28 loans. In early February, Craig Boyer, the company's former chief underwriter, sued Callidus in the Ontario Superior Court of Justice over vacation pay, health benefits and stock options that he said he is owed after being ''constructively terminated'' last August.  FULL STORY arrow
space

space
Europe's richest seek a haven in Canadian office towers space
space
By ANDREW WILLIS
Tuesday, February 21, 2017 – Page B1
space
-- Europe's wealthiest families have discovered Canadian commercial real estate as a safehaven investment, snapping up landmark properties in Toronto, Vancouver and Montreal over the past year, in part because of concerns about the European Union's uncertain future.  FULL STORY arrow
space

space
Why an old-school investment banker sees an explosion of 'north-south' deals space
space
By ANDREW WILLIS
Tuesday, February 21, 2017 – Page B4
space
-- A generation ago, investment bank Lazard began opening offices in China. The timing proved prescient: The 169-yearold firm arrived in cities such as Beijing ahead of a wave of transformative deals that turned Chinese companies into global players.  FULL STORY arrow
space

space
TMX study looks at innovation funding woes space
space
By ANDREW WILLIS
Tuesday, February 21, 2017 – Page B3
space
-- Canadian growth companies face a $4-billion funding shortfall compared with U.S. rivals that should be filled by tapping the country's pension plans, banks and insurers, according to a study due to be released Tuesday and backed by TMX Group Ltd.  FULL STORY arrow
space

space
Canada Goose spreads wings with IPO space
space
By ANDREW WILLIS, CHRISTINA PELLEGRINI
Thursday, February 16, 2017 – Page B1
space
-- Parka maker Canada Goose Holdings Inc. filed paperwork Wednesday for an expected $200-million (U.S.) initial public offering, the third debut in the past six months from a Canadian company that sells trendy consumer products.  FULL STORY arrow
space

space
Canadian pipelines exploit lazy balance sheets at U.S. rivals space
space
By ANDREW WILLIS
Tuesday, February 14, 2017 – Page B2
space
-- CEOs at Canada's largest utilities would be reluctant to admit it publicly, but for the past year, they've taken advantage of what they privately like to call ''lazy'' balance sheets at their U.S. rivals to stage a series of bold takeovers.  FULL STORY arrow
space

space
Commercial property deals soar space
Foreign buyers flock to Canada, pushing investment to a record $34.7-billion
space
By JACQUELINE NELSON, ANDREW WILLIS
Monday, February 13, 2017 – Page B1
space
-- Canadian commercial property deals soared to new heights in 2016 as a surge of foreign buyers aggressively bought up office, shopping and hotel properties across the country. It's a trend that's expected to continue this year as real estate investors look for safe havens.  FULL STORY arrow
space

space
Pengrowth looks to SPAC cash for oil and gas assets space
space
By ANDREW WILLIS, NIALL MCGEE
Friday, February 10, 2017 – Page B1
space
-- Debt-heavy Pengrowth Energy Corp. is in talks to sell approximately $500-million in Alberta oil and gas assets to Infor Acquisition Corp., the latest sign of financial companies stepping up for energy assets, according to people familiar with the matter.  FULL STORY arrow
space

space
Sunshine tries to hit pay dirt in dreary mining IPO market space
space
By ANDREW WILLIS
Monday, February 6, 2017 – Page B1
space
-- What's old is new again in mining, as a silver producer prepares to take a second stab at an initial public offering.Sunshine Silver Mining and Refining Corp. is auditioning investment banks for starring roles in an IPO on the Toronto Stock Exchange, according to sources pitching the company.  FULL STORY arrow
space

space
HBC eyes global shopping spree space
Iconic Canadian retailer in talks with Macy's, has also looked at other acquisition targets
space
By MARINA STRAUSS, ANDREW WILLIS
Saturday, February 4, 2017 – Page B1
space
-- Hudson's Bay Co. has approached U.S. rival Macy's Inc. about a potential takeover and the Toronto-based retailer has also looked at other departmentstore companies around the world, industry sources say.  FULL STORY arrow
space

space
Corporate Canada's international dealing leaves law firms behind space
space
By ANDREW WILLIS
Saturday, February 4, 2017 – Page B4
space
-- The largest takeovers Corporate Canada has seen are playing out now with minimal input from Canadian lawyers. It's a trend that's sending a chill through the biggest law firms, as lawyers struggle with a challenge that threatens their existence: How to stay relevant to clients with international ambitions.  FULL STORY arrow
space

space
Kew Media to acquire $104.1-million portfolio space
space
By JACQUELINE NELSON, ANDREW WILLIS
Friday, February 3, 2017 – Page B2
space
-- Kew Media Group Inc. is set to acquire a broad portfolio of 10 companies that own, produce and distribute film, television and other programming for $104.1million.From the Netflix documentary series Cooked, to lifestyle shows such as Dance Moms and Hockey Wives and a host of well-known documentaries, Kew is poised to buy companies that control 6,000 hours of media content sold in more than 150 countries.  FULL STORY arrow
space

space
Slate launches opportunistic fund space
The new private fund's first acquisition is a $200-million portfolio of office buildings in Calgary
space
By ANDREW WILLIS
Friday, February 3, 2017 – Page B3
space
-- Slate Asset Management is launching a real estate fund that will invest in commercial properties that need a little tender loving care to regain their lustre.The new private fund is called the Slate Canadian Real Estate Opportunities fund, according to sources close to the company, and its first acquisition is a $200-million portfolio of 12 office buildings in Calgary from Dream Office REIT. Toronto-based Dream disclosed the sale last week, but did not reveal the buyer.  FULL STORY arrow
space

space
Has Vision spotted the next REIT takeover? space
space
By ANDREW WILLIS
Thursday, February 2, 2017 – Page B1
space
-- When Milestone Apartments REIT units soared on news of a $1.3-billion (U.S.) takeover bid from private-equity fund Starwood Capital last month, investors began searching for the next potential acquisition target in the real estate sector.  FULL STORY arrow
space

space
ALL THAT GLITTERS ... space
The Bre-X mining scandal rocked Canada and the world in the 1990s. Twenty years later, how did the event become just another shiny, empty Hollywood thriller?
space
By ANDREW WILLIS
Friday, January 27, 2017 – Page R1
space
-- When the Bre-X scandal broke in 1997 and a massive gold find was revealed as a more massive fraud, mining executives predicted the true-life tale would be made into a movie, then joked about which actor should portray them on the big screen.  FULL STORY arrow
space

space
Firms invest in AI to get ahead of the curb on smart cars space
space
By ANDREW WILLIS
Thursday, January 26, 2017 – Page B2
space
-- Magna International Inc. chief executive officer Don Walker has a colourful description of what artificial intelligence (AI) is going to mean to the auto industry.A car with a human at the wheel swerves to avoid a ball that rolls across the road, and an experienced driver knows to watch for a child chasing the ball, Mr. Walker told a conference Wednesday. Upgrade that car with AI, and it will automatically avoid the ball, and know to check for a child, by using its own sensors and by networking with AI systems in nearby cars that may have a better view.  FULL STORY arrow
space

space
Dream REIT sells Alberta buildings for $200-million space
space
By ANDREW WILLIS
Wednesday, January 25, 2017 – Page B1
space
-- Dream Office REIT began to exit the Calgary and Edmonton real estate markets Tuesday, announcing the company has agreed to sell 12 office buildings in Alberta for approximately $200-million.  FULL STORY arrow
space

space
Dream REIT in talks to sell Alberta office buildings space
space
By ANDREW WILLIS
Tuesday, January 24, 2017 – Page B1
space
-- Two major real estate investors are working on an $800-millionplus deal that speaks to very different views of the Alberta real estate market. Dream Office REIT is close to selling its portfolio of 45 Calgary and Edmonton office buildings to Slate Asset Management, according to people familiar with the talks.  FULL STORY arrow
space

space
Private equity cool on Performance Sports Group space
space
By CHRISTINA PELLEGRINI, ANDREW WILLIS
Tuesday, January 24, 2017 – Page B1
space
-- Potential private equity buyers appear to be steering clear of hockey and baseball equipment maker Performance Sports Group Ltd., clearing the field for a $575-million (U.S.) bid for the company from Sagard Capital Partners LP and Fairfax Financial Holdings Ltd.  FULL STORY arrow
space

space
The CEO Torstar needs won't want the job space
space
By ANDREW WILLIS
Saturday, January 21, 2017 – Page B13
space
-- Next week, Torstar Corp. will interview candidates to be the next CEO of the 125-year-old media company. There may be no tougher job in corporate Canada.The role requires a transformational leader with the vision and skills to turn a newspaper chain with rapidly-falling revenues into a cutting-edge digital publisher.  FULL STORY arrow
space

space
Former CP chief takes one more railway ride space
space
By ANDREW WILLIS
Friday, January 20, 2017 – Page B1
space
-- Who walks away from $118million?The answer, obviously, is former Canadian Pacific Railway CEO Hunter Harrison, who just gave up a generous retirement package, at the age of 72, to team up once again with fund manager Paul Hilal and attempt to turn around a rival railway, CSX Corp.  FULL STORY arrow
space

space
Waterous leaves Scotiabank to launch private-equity fund in energy space
space
By ANDREW WILLIS
Saturday, January 14, 2017 – Page B3
space
-- Over the past few years, energy company executives have been telling Adam Waterous that despite the negative headlines, there has never been a better time to be exploring for oil and gas.  FULL STORY arrow
space

space
Trump Toronto hotel put on block space
Financially troubled building hits market as hospitality properties become a hot commodity in Canada
space
By ANDREW WILLIS
Thursday, January 12, 2017 – Page B1
space
-- Trump International Hotel and Tower Toronto is looking for a new owner, with creditors hoping that strong investor interest in Canadian hospitality properties can rescue a development that proved to be a money pit for its original backers.  FULL STORY arrow
space

space
Cineplex goes big with Call of Duty contest space
space
By ANDREW WILLIS
Wednesday, January 11, 2017 – Page B2
space
-- All those hours spent playing video games may not be wasted time.In the latest sign that e-sports is becoming a big-money enterprise in Canada, Cineplex Inc. announced a tournament Tuesday that will see teams shoot it out in the video game Call of Duty for $65,000 in cash and prizes and, for the first time, the opportunity to move on to a major U.S. competition.  FULL STORY arrow
space

space
Goldman's new Canadian CEO prepares his pitch space
space
By ANDREW WILLIS, CHRISTINA PELLEGRINI
Tuesday, January 10, 2017 – Page B1
space
-- Newly arrived Goldman Sachs Canada Inc. CEO Jason Rowe knows that in the highly competitive investment-banking sector, he needs to differentiate his firm from rivals. And he's got a pitch ready to go.  FULL STORY arrow
space

space
A Canadian firm's strategy for deals finds new roadblocks space
space
By ANDREW WILLIS
Monday, January 9, 2017 – Page B1
space
-- Over two decades, Constellation Software Inc. used a steady diet of acquisitions to become one of Canada's largest tech companies, gobbling up more than 250 smaller rivals to build a $12-billion business.  FULL STORY arrow
space

space
Gibson propane sale attracts PE funds, strategic buyers space
space
By ANDREW WILLIS
Thursday, January 5, 2017 – Page B5
space
-- Five private-equity funds are slugging it out with two of the country's biggest propane suppliers in the $400-millionplus auction of Gibson Energy Inc.'s propane business, the latest example of institutional investors' love affair with all things infrastructure.  FULL STORY arrow
space

space
Students write theses in stock picking space
space
By ANDREW WILLIS
Tuesday, January 3, 2017 – Page B1
space
-- Last year, McGill University finance student Charles Feng's big investment idea was buying stock in Tesla Motors Inc.This year, he is searching for better investments, as the stakes are far higher, and a strategy that worked in the past may not pay dividends going forward: Tesla shares were down 11 per cent in 2016.  FULL STORY arrow
space

space
Acasta deal raises the question: Are SPACs useful? space
space
By ANDREW WILLIS
Friday, December 23, 2016 – Page B1
space
-- When Tony Melman and Belinda Stronach launched a special purpose acquisition corporation, or SPAC, called Acasta Enterprises, the pair recruited a lineup of Bay Street all-stars as directors and advisers.  FULL STORY arrow
space

space
Ottawa builds a bridge for infrastructure investment space
space
By ANDREW WILLIS
Thursday, December 22, 2016 – Page B1
space
-- At first glance, Bay Street and the federal Liberals seem miles apart when it comes to infrastructure. The finance crowd sees investors lining up to put private money into public projects. BMO Nesbitt Burns, a market leader in the infrastructure bond market, confidently predicts the coming year will see private investors commit a record $8.7-billion of debt financing to Canadian projects, up from approximately $7-billion in both 2016 and 2015.  FULL STORY arrow
space

space
Independent dealers get a buzz off pot producers space
space
By ANDREW WILLIS
Saturday, December 17, 2016 – Page B2
space
-- When marijuana is being passed around and someone holds the spliff a little too long, that's called bogarting the joint.Right now, a handful of Canada's independent investment banks are bogarting the legal and lucrative medical marijuana market, raising more than $230-million to fund fledgling companies in the past two years. These dealers in dope stocks have created firms expected to be valued at $5-billion or more by the time lighting a joint is totally legal.  FULL STORY arrow
space

space
Pipelines pump good politics out of bad policy space
space
By ANDREW WILLIS
Wednesday, December 14, 2016 – Page B4
space
-- Kinder Morgan's planned Trans Mountain pipeline - three years away from carrying oil - pumped out a public relations win for the federal Liberals, as newly released polls show the government got positive reviews for approving the project, even as Ottawa scrambles to take some of the politics out of energy policy.  FULL STORY arrow
space

space
Canada's big banks rush to borrow ahead of rising rates space
space
By ANDREW WILLIS
Monday, December 12, 2016 – Page B3
space
-- The Bank of Canada may be holding off on interest-rate hikes, but the country's largest financial institutions are signalling they expect the cost of borrowing to rise in the not-too-distant future by staging a series of massive bond sales in recent weeks.  FULL STORY arrow
space

space
Will CIBC try to save its U.S. deal? There's a clue in the fine print space
space
By ANDREW WILLIS
Saturday, December 10, 2016 – Page B1
space
-- Like all of CIBC's 44,000 employees, chief executive officer Victor Dodig faces a yearend performance review that determines his take-home pay.There may be a few more zeros in the CEO's paycheque - he made $8.1-million last year - but the boss has the same conversation as other staff about whether the bank achieved its targets.  FULL STORY arrow
space

space
CIBC expected to raise bid for PrivateBancorp space
Shareholder vote postponed amid calls for sweeter offer: 'How much more remains an open question'
space
By CHRISTINA PELLEGRINI, JACQUELINE NELSON, ANDREW WILLIS
Friday, December 9, 2016 – Page B1
space
-- Canadian Imperial Bank of Commerce is widely expected to raise its $3.8-billion (U.S.) bid for a U.S. bank, and the question now is whether CIBC can close the ground-breaking deal without overpaying.  FULL STORY arrow
space

space
Stirring ghosts of bonus past won't help bankers this holiday space
space
By ANDREW WILLIS
Wednesday, December 7, 2016 – Page B1
space
-- I pity the investment banker who decides to throw a hissy fit over this year's bonus payment.Canada's six bank-owned dealers just turned in stellar results, collectively posting profits of $7.8-billion for fiscal 2016, a 5-per-cent increase over the previous year, on the back of strong takeover activity and a surge in equity financings from utilities and energy companies.  FULL STORY arrow
space

space
Enron files for bankruptcy protection space
space
By ANDREW WILLIS
Friday, December 2, 2016 – Page A2
space
--   FULL STORY arrow
space

space
Family business: Do governance scores paint the full picture? space
space
By ANDREW WILLIS
Monday, November 28, 2016 – Page B1
space
-- When The Globe and Mail first began scoring governance in Corporate Canada 15 years ago, some of the country's most respected business families freaked out.Ted Rogers, late founder of Rogers Communications Inc., argued wife and fellow board member Loretta was as independent a thinker as you will ever meet, so the company should not lose points by having Mrs. Rogers counted as a related party director.  FULL STORY arrow
space

space
Sprott shows why a golden deal may be better than a pile of cash space
space
By ANDREW WILLIS
Saturday, November 26, 2016 – Page B12
space
-- In recent weeks, the bright lights in mining and finance circles have been asking what on earth Eric Sprott is up to.Mr. Sprott's stock-picking prowess has made him an occasional billionaire - the 72-yearold money manager has a chunk of his fortune tied up in gold companies, which means he is well-to-do all the time and vaults into the ranks of the unimaginably wealthy when bullion prices soar.  FULL STORY arrow
space

space
Rising number of well closings to weigh on oil sector space
space
By ANDREW WILLIS
Monday, November 21, 2016 – Page B1
space
-- Canada's oil patch is in for another shock, as energy companies are expected to abandon a record number of aging oil and gas wells over the next year, a move that will weigh heavily on businesses with older oil and gas fields.  FULL STORY arrow
space

space
RBC chief strategist Jamie Anderson to retire early next year space
space
By ANDREW WILLIS
Friday, November 18, 2016 – Page B2
space
-- Royal Bank of Canada head of corporate strategy and development Jamie Anderson will retire from the bank early in the new year, and the veteran deal maker's replacement signals that RBC plans to continue expanding in the U.S. market.  FULL STORY arrow
space

space
Ottawa to review sale of ports space
space
By ANDREW WILLIS, JACQUELINE NELSON
Wednesday, November 16, 2016 – Page B1
space
-- The federal Liberals are paving the way for the potential sale of government-owned shipping hubs, part of a larger strategy to encourage private-sector investment in infrastructure.Ottawa announced late on Monday that it had hired investment bank Morgan Stanley Canada Ltd. to review ownership options for 18 Canadian ports.  FULL STORY arrow
space

space
BMO teams with Vice Media to win millennial wallets space
space
By ANDREW WILLIS
Monday, November 14, 2016 – Page B2
space
-- The battle to sell young Canadians on a bank is creating corporate odd couples, as edgy Vice Media teams up with venerable Bank of Montreal to launch Vice Money, a digital platform that debuts Monday and strives to win the hearts and wallets of the millennial audience.  FULL STORY arrow
space

space
Richardson to stay the course space
space
By ANDREW WILLIS
Saturday, November 12, 2016 – Page B1
space
-- One of Canada's wealthiest families and a leading investment bank showed their faith in the wealth management industry Thursday, as the owners of Richardson GMP Ltd. opted to turn down a $600-million payday and aggressively build up the country's largest independent brokerage firm. Winnipeg's Richardson clan and GMP Capital Inc. co-own Richardson GMP with the firm's 900 employees and have been debating the firm's future for several months. Years ago, the owners struck a deal that allows each to sell their stakes after Nov. 15, 2016.  FULL STORY arrow
space

space
Acasta takes flight with a trio of deals space
space
By ANDREW WILLIS
Friday, November 11, 2016 – Page B1
space
-- Newly hatched Acasta Enterprises Inc. took flight Thursday by announcing plans to take over three private companies simultaneously in a $1.2-billion round of deals that draw on blue-chip board connections.  FULL STORY arrow
space

space
A long night on Bay Street space
Experts and executives across the country were kept on the edge of their seats as results overturned even their best market predictions
space
By ANDREW WILLIS, JACQUELINE NELSON, TIM KILADZE, NIALL MCGEE, CHRISTINA PELLEGRINI
Thursday, November 10, 2016 – Page B10
space
-- The 2016 American presidential election campaign featured non-stop drama, climaxing in Donald Trump's upset win over Democratic nominee Hillary Clinton and a sharp sell-off in markets on news of the Republican's victory. Here are first-person accounts of what Bay Street executives experienced over the course of an eventful election night and the following morning.  FULL STORY arrow
space

space
Stock markets slide amid U.S. election uncertainty space
space
By ANDREW WILLIS, JACQUELINE NELSON
Wednesday, November 9, 2016 – Page A15
space
-- Global markets gyrated sharply Tuesday night, underscoring the tight race to the finish of the U.S. presidential election.The Canadian dollar was off by about a half a cent as an apparent early lead by Democratic candidate Hillary Clinton gave way to gains by Republican challenger Donald Trump in several key states. Asian stock markets sold off heavily amid the uncertainty, while U.S. stock futures indexes plunged through the evening and crude oil extended its recent slide, falling more than $1 a barrel to about $43.50 (U.S.) as investors moved cautiously while votes were tallied.  FULL STORY arrow
space

space
The Giustra, Magna, Lundin, Clinton TD Bank, McKenna, Barrick, Connection Cooper, CIBC space
How Bill and Hillary raised and earned millions from Canada's corporate elite
space
By KAREN HOWLETT, JEFFREY JONES, ANDREW WILLIS
Saturday, November 5, 2016 – Page B1
space
-- It was the plane ride that launched a thousand good deeds, and one lingering controversy.One day in June, 2005, Bill Clinton clambered aboard the private jet of Frank Giustra, the Vancouver mining financier. Mr. Clinton needed to get to Mexico City to begin a speaking tour of Latin America and oversee the work of his sprawling charitable enterprise. The two men didn't know each other well. But Mr. Giustra happened to have a luxury MD-87 aircraft to get him there. And he was curious about the former U.S. president and his philanthropic work.  FULL STORY arrow
space

space
Trilogy to come to Canada in Alignvest deal space
space
By ANDREW WILLIS
Thursday, November 3, 2016 – Page B7
space
-- Telecom company Trilogy International Partners LLC, which runs wireless networks in New Zealand and Bolivia, plans to go public in Canada by agreeing to a takeover offer from Torontobased Alignvest Acquisition Corp.  FULL STORY arrow
space

space
Firms rushing to the fast lane that is artificial intelligence space
space
By ANDREW WILLIS
Friday, October 28, 2016 – Page B2
space
-- To understand how fast business is moving in adopting artificial intelligence, consider how much the past eight months have changed the life of former Google executive Lior Ron, the star attraction at a conference hosted by the University of Toronto's Rotman School of Management.  FULL STORY arrow
space

space
With growing pains out of the way, TD's Scottrade deal is low risk space
space
By ANDREW WILLIS
Tuesday, October 25, 2016 – Page B1
space
-- Outside work, TD Ameritrade Holding Corp. CEO Tim Hockey is known as a formidable longdistance cyclist.The same qualities that allow the discount brokerage boss to set a blistering pace on 100-kilometre-plus rides - perseverance, commitment, focus - should give investors comfort as TD Ameritrade and its biggest shareholder, Toronto-Dominion Bank, roll out a $4-billion (U.S.) takeover bid of U.S. discount broker and retail banker Scottrade Financial Services Inc.  FULL STORY arrow
space

space
Cargill enters bidding for U.S. Steel Canada space
Joint bid with Essar will be challenged to outdo Bedrock Industries offer
space
By GREG KEENAN, ANDREW WILLIS
Friday, October 21, 2016 – Page B1
space
-- The former parent company of Essar Steel Algoma Inc. is teaming up with agriculture and industrial giant Cargill Inc. to renew its bid to buy U.S. Steel Canada Inc., sources familiar with the companies' plans say.  FULL STORY arrow
space

space
TD doubles up in bid for Scottrade space
Toronto-Dominion Bank, TD Ameritrade make joint offer for U.S.-based discount broker
space
By ANDREW WILLIS, RITA TRICHUR
Thursday, October 20, 2016 – Page B1
space
-- Discount broker TD Ameritrade Inc. has teamed up with major shareholder Toronto-Dominion Bank to make a joint bid for a coveted rival, Scottrade Financial Services Inc., which is exploring a sale that's expected to fetch $4-billion (U.S.).  FULL STORY arrow
space

space
Tips for the next guy: How to be a Rogers CEO space
space
By ANDREW WILLIS
Wednesday, October 19, 2016 – Page B1
space
-- Dear Joe Natale, As someone who welcomes the ''To Do' list of household tasks my wife occasionally leaves on the kitchen table, I appreciate how helpful it is to be given a road-map to happiness.  FULL STORY arrow
space

space
Mid-sized oil firms ponder sales, IPOs space
space
By ANDREW WILLIS, TIM KILADZE, JEFF LEWIS
Monday, October 17, 2016 – Page B1
space
-- A growing list of Canadian energy companies owned by private equity funds are considering going public in coming months on the back of rising energy prices and surging investor interest in oil and gas stocks.  FULL STORY arrow
space

space
Head of TD investment banking to exit space
Pat Meneley will leave at the end of the year and a new senior management team will take the reins
space
By ANDREW WILLIS
Wednesday, October 12, 2016 – Page B3
space
-- Succession is playing out at the investment dealer arm of Toronto-Dominion Bank, with longtime head of investment banking Pat Meneley announcing plans Tuesday to leave at the end of the year and a new senior management team taking the reins.  FULL STORY arrow
space

space
From a Nobel contender, a red flag for homeowners - and regulators space
space
By ANDREW WILLIS
Tuesday, October 11, 2016 – Page B1
space
-- Among the contenders for this year's Nobel Prize in economics was a Yale University professor named John Geanakoplos, whose work focuses on what's known as ''the leverage cycle.'' While he didn't win the prize - it was awarded Monday to a Finnish and British team - the fact that Mr. Geanakoplos attracts this level of critical acclaim should serve as a wake-up call to Canadian homeowners.  FULL STORY arrow
space

space
Arizona Governor calls for more Canada-U.S. trading space
space
By ANDREW WILLIS
Thursday, October 6, 2016 – Page B3
space
-- Arizona's Republican Governor is touring Canada urging corporate leaders to ignore the anti-trade rhetoric that is dominating the U.S. presidential campaign and keep investing in U.S. expansion.  FULL STORY arrow
space

space
New TMX roundtable aims to give Canadian startups a boost space
space
By ANDREW WILLIS
Wednesday, October 5, 2016 – Page B3
space
-- Stock exchange operator TMX Group Ltd. is attempting to help Canadian startups blossom into world beaters by backing a blue-chip study on the innovation economy that draws on talent from the country's deepest capital pools.  FULL STORY arrow
space

space
An easy way to make a hostile bid friendlier space
space
By ANDREW WILLIS
Tuesday, October 4, 2016 – Page B2
space
-- Hostile takeovers are notoriously difficult deals to complete. Only half these bids actually succeed, and the ones that do set out a game plan for those that follow.Chemtrade Logistics Income Fund broke with conventional takeover tactics as it launched a hostile bid Monday for Canexus Corp., and in doing so, hinted that there may be room to improve an offer that puts an $884million enterprise value on the target company.  FULL STORY arrow
space

space
Canadian firms take advantage of debt demand space
space
By ANDREW WILLIS
Monday, October 3, 2016 – Page B1
space
-- In late September, Air Canada issued junk bonds. The airline, which sports a rating of doubleB-minus from Standard and Poor's, borrowed $200-million for seven years and paid just 4.75per-cent interest for the privilege.  FULL STORY arrow
space

space
After Aritzia, Bay Street lines up IPO candidates space
space
By ANDREW WILLIS
Friday, September 30, 2016 – Page B1
space
-- Like wine makers, private equity funds describe their investments in terms of vintage years.For an example of what's in the private equity cellar, look no further than Berkshire Partners LLC, a Boston-based fund manager that pulled the cork on a 2005 vintage this week by selling a portion of its stake in Aritzia Inc. for $230-million as part of the Vancouver-based fashion retailer's $400-million initial public offering. Aritzia shares begin trading Monday on the Toronto Stock Exchange.  FULL STORY arrow
space

space
RBC head calls for new pipelines space
space
By ANDREW WILLIS
Tuesday, September 27, 2016 – Page B2
space
-- Royal Bank of Canada chief executive officer David McKay waded into the increasingly emotional national debate over the future of the country's oil and gas industry Monday with a passionate speech in favour of innovation and growth in the domestic energy sector, and building new pipelines.  FULL STORY arrow
space

space
Essar Steel Algoma creates restructuring plan space
space
By ANDREW WILLIS, GREG KEENAN
Saturday, September 24, 2016 – Page B5
space
-- Creditors in Essar Steel Algoma Inc. put forward a restructuring plan on Friday that would inject $425-million (U.S.) of new capital in the troubled steel maker and force out current owner Essar Global Ltd. of India.  FULL STORY arrow
space

space
Encana deal's low fees serve as warning to Bay Street space
space
By ANDREW WILLIS
Friday, September 23, 2016 – Page B1
space
-- Canada's largest companies now have a proven lower-cost way to sell shares after Monday's $1-billion (U.S.) equity sale by Encana Corp., and if this approach to financing catches on, investment banks will see their underwriting fees slashed.  FULL STORY arrow
space

space
In the oil patch, a gusher of stock sales space
Producers raise billions to pay debt and fund growth, but shareholders often hit with losses
space
By ANDREW WILLIS, TIM KILADZE, KELLY CRYDERMAN
Wednesday, September 21, 2016 – Page B1
space
TORONTO, CALGARY -- Big players in the Canadian energy sector have pumped out a slew of stock sales to pay down debt and fund new production projects. While oil executives pitch these deals as paving the way for growth, investors have yet to be rewarded for their faith.  FULL STORY arrow
space

space
Encana unveils stock sale to pay down debt, fund spending space
space
By JEFFREY JONES, ANDREW WILLIS
Tuesday, September 20, 2016 – Page B1
space
CALGARY, TORONTO -- Encana Corp. is seeking to raise more than $1-billion in a marketed share issue, a departure from priced bought deals that are more often used to raise money in the oil patch.  FULL STORY arrow
space

space
How Rogers can win by losing the Blue Jays space
space
By ANDREW WILLIS
Saturday, September 17, 2016 – Page B1
space
-- A bat-flipping Toronto Blue Jays outfielder is about to show us where chief executive officer Guy Laurence plans to take Rogers Communications Inc.Jose Bautista is among the most popular players in franchise history and a key component in the Jays' drive to make the playoffs for a second straight season. By thrilling fans in a Rogers-owned stadium and on Rogers-owned cable TV and radio stations, Mr. Bautista can credibly argue that he and his teammates pad the bottom line and warm consumers to a brand that Canadians love to hate.  FULL STORY arrow
space

space
Catalyst appeals decision in lawsuit against former analyst space
space
By ANDREW WILLIS
Wednesday, September 14, 2016 – Page B3
space
-- The latest instalment in a long-running Bay Street feud began Tuesday, as Catalyst Capital Group Inc. appealed a court decision that went against the distressed-debt fund and in favour of rival asset manager West Face Capital Inc.  FULL STORY arrow
space

space
Potash, Agrium agree on megamerger space
$36-billion (U.S.) deal creates fertilizer giant, but plan to find $500-million of savings raises doubts
space
By IAN MCGUGAN, ANDREW WILLIS
Tuesday, September 13, 2016 – Page B1
space
-- Potash Corp. of Saskatchewan Inc. and Agrium Inc. are joining forces to create a made-in-Canada agricultural giant with the heft to compete in a glutted global market for fertilizers.  FULL STORY arrow
space

space
FUTURE OF CANPOTEX GOVERNANCE PUT INTO QUESTION space
space
By IAN MCGUGAN, ANDREW WILLIS
Tuesday, September 13, 2016 – Page B7
space
-- The proposed merger of Potash Corp. of Saskatchewan Inc. and Agrium Inc. has cast a spotlight on the future of Canpotex Ltd., the organization that markets Saskatchewan potash outside of North America.  FULL STORY arrow
space

space
How a minor merger sprouted into a much bigger one space
space
By ANDREW WILLIS
Tuesday, September 13, 2016 – Page B7
space
-- The seed that sprouted into the world's biggest fertilizer company was planted a year ago, when a CEO who had trouble making a big deal sat down with a friendly rival to talk about a small deal.  FULL STORY arrow
space

space
Teachers bidding on subprime lender space
Pension funds have been snapping up businesses facing heightened regulation following global financial crisis
space
By ANDREW WILLIS
Monday, September 12, 2016 – Page B1
space
-- The Ontario Teachers' Pension Plan is among the bidders for Citigroup Inc.'s 200-branch Canadian consumer finance company, the latest in a series of pensionfund acquisitions from U.S. banks and financial companies that face heightened regulation in the wake of the global financial crisis.  FULL STORY arrow
space

space
More bidders circling Richardson GMP space
space
By ANDREW WILLIS
Thursday, September 8, 2016 – Page B1
space
-- Winnipeg's Richardson family is expected to exit its latest foray into financial services with another tidy profit, as bidders line up for one of Canada's largest independent investment managers, Richardson GMP Ltd.  FULL STORY arrow
space

space
Wheeling and dealing: Canadian utilities buy growth with big cross-border takeovers space
space
By ANDREW WILLIS
Wednesday, September 7, 2016 – Page B1
space
-- Toss out every stereotype you held around the staid, conservative folks who run Canadian utilities for coupon-clipping investors.As Enbridge Inc. CEO Al Monaco demonstrated yesterday by launching a blockbuster $37-billion merger with Houston-based Spectra Energy Corp., Canadian utilities are wheeling and dealing.  FULL STORY arrow
space

space
TD, rivals make bid for Richardson GMP space
Raymond James, Wells Fargo have also shown interest in retail brokerage unit that could fetch $500-million in sale
space
By RITA TRICHUR, ANDREW WILLIS, NIALL MCGEE
Tuesday, September 6, 2016 – Page B1
space
-- Wealth management firm Richardson GMP Ltd. is on the auction block with at least one major Canadian bank, TorontoDominion Bank, among the bidders, according to people familiar with the sale process.  FULL STORY arrow
space

space
Blank-cheque companies look to mimic their U.S. peers space
space
By ANDREW WILLIS
Monday, September 5, 2016 – Page B1
space
-- Canada's four remaining special purpose acquisition corporations, or SPACs, are likely to steal a page from U.S. peers in coming months by acquiring companies from private equity funds that need cash out on their investments.  FULL STORY arrow
space

space
Potash-Agrium: A match made with M&A might space
space
By ANDREW WILLIS
Thursday, September 1, 2016 – Page B1
space
-- Maybe we shouldn't have been surprised by Tuesday's news of the potential merger of Potash Corp. of Saskatchewan Inc. and Agrium Inc. After all, the groundwork for a deal was laid over the course of a decade in the boardroom, as both fertilizer companies prepared for global consolidation.  FULL STORY arrow
space

space
Rival bids would deepen intrigue in potash saga space
space
By ANDREW WILLIS
Wednesday, August 31, 2016 – Page B1
space
-- Fertilizer giants Potash Corp. of Saskatchewan Inc. and Agrium Inc. left the door ever so slightly open to a competing offer for their companies after they were forced Tuesday to reveal that they are working on a multibillion-dollar merger. Rival resource companies are dutybound to see whether they can squeeze through that crack, egged on by bankers anxious to play a role in the biggest commodity deal in years.  FULL STORY arrow
space

space
Wilson takes new tack in clash with Lululemon space
space
By ANDREW WILLIS
Tuesday, August 30, 2016 – Page B1
space
-- Lululemon Athletic Inc. founder Dennis (Chip) Wilson is attempting to reset his sometimes troubled relationship with the fashion retailer though a charm offensive that includes everything from ideas on governance and operations to a Vancouver bus shelter campaign urging head office employees to meditate.  FULL STORY arrow
space

space
In Canada's boardrooms, activist investors are striking out space
space
By ANDREW WILLIS
Monday, August 29, 2016 – Page B1
space
-- Activist investors are on a twoyear cold streak, losing all of the 14 proxy fights brought by dissident shareholders in Canadian companies since January, 2015, after historically winning the majority of these boardroom showdowns.  FULL STORY arrow
space

space
When the credit cycle turns, some banks will take a harder hit space
space
By ANDREW WILLIS
Saturday, August 27, 2016 – Page B1
space
-- Royal Bank CEO Dave McKay made a confession this week that is seldom heard from the head of Canada's largest bank: RBC is losing market share in a key sector, and that's okay with the boss.  FULL STORY arrow
space

space
Dundee, CHC Student Housing in merger space
space
By ANDREW WILLIS
Friday, August 26, 2016 – Page B1
space
-- Struggling CHC Student Housing Corp. found a lifeline Thursday by agreeing to a merger with Dundee Acquisition Ltd. that brings in $113-million, cash earmarked for the purchase of 12 offcampus university residences and the launch of a national niche real estate company.  FULL STORY arrow
space

space
BONDS AWAY space
INSPIRED BY, AND NAMED AFTER, A RUGGED AMPHIBIOUS AIRPLANE, CANSO INVESTMENT COUNSEL IS PROUDLY CONTRARIAN-- WHICH IS WHY IT MAY JUST BE THE ONLY COMPANY TO MAKE MONEY OFF POSTMEDIA
space
By ANDREW WILLIS
Friday, August 26, 2016 – Page P32
space
-- JOHN ISN'T CARSWELL AFRAID OF ACERTAIN AMOUNT OF DANGER.In fact, he often goes looking for it. That's partly due to his background. Carswell earned an undergraduate degree at Royal Military College (RMC) in Kingston, and his first assignment after graduating in 1978 was as an air navigator for the Canadian Forces. But that daring streak has also helped him enormously in the career he's pursued since serving in the military: bond fund manager.  FULL STORY arrow
space

space
TMX forms group to help tech companies gain growth capital space
space
By ANDREW WILLIS
Thursday, August 25, 2016 – Page B3
space
-- Canada's push to develop cuttingedge companies got a boost from the country's largest stock market operator on Wednesday, as TMX Group Ltd. announced plan to launch the ''Advancing Innovation Roundtable,'' a group that will search for ways to increase access to growth capital for companies.  FULL STORY arrow
space

space
Canadian companies learn to pre-empt competition concerns space
space
By ANDREW WILLIS
Wednesday, August 24, 2016 – Page B1
space
-- As Canadian companies attempt large takeovers in mature markets, winning approval for deals from competition watchdogs is becoming as important as gaining support from investors.Consider the hoops that Laval, Que.-based Alimentation CoucheTard just jumped through Monday in announcing the $4.4-billion (U.S.) acquisition of convenience store chain CST Brands. Texas-based CST has extensive Quebec and Ontario operations in cities and towns that Couche-Tard already dominates, along with 2,000 locations in the U.S. Southwest. Rather than risk the wrath of the Competition Bureau by trying to knit together Canadian chains, an exercise that offers mouth-watering synergies, Couche-Tard cut a side deal with Parkland Fuel that will see the Red Deer, Alta.-based upstart snap up CST's Canadian stores for $975-million (Canadian).  FULL STORY arrow
space

space
Big pension funds slash stake in TMX Group space
space
By ANDREW WILLIS
Tuesday, August 23, 2016 – Page B1
space
-- Three of Canada's largest pension funds are selling a portion of their stake in TMX Group Ltd. for $310-million, cashing in on a four-year-old investment in the country's dominant stock exchange operator.  FULL STORY arrow
space

space
National regulator plows ahead despite holdouts space
space
By ANDREW WILLIS
Monday, August 22, 2016 – Page B1
space
-- Canadian politicians and business leaders have taken numerous high-profile runs at replacing 10 provincial securities commissions with a single national securities regulator.Each grand effort failed.Retired insurance executive William Black plans to succeed where others have fallen short by launching what's known as the Capital Markets Regulatory Authority (CMRA) and working with those who buy into the case for a national regulator, rather than waiting for approval from every province. And there's every indication the inaugural CMRA chairman will get the job done, using a low-key approach and leadership lessons learned over three decades of knitting together corporate cultures.  FULL STORY arrow
space

space
When private equity backers start cashing in, it's time to buy space
space
By ANDREW WILLIS
Saturday, August 20, 2016 – Page B1
space
-- The smart money headed for the exit last week at madein-Canada success stories Shopify Inc. and Aritzia Inc., as longtime private equity backers and founders at both companies announced plans to cash in. What should investors make of these moves?  FULL STORY arrow
space

space
Complete Index of Today's Print Headlines
space


space  Advertisement
space

Need CPR for your RSP? Check your portfolio’s pulse and lower yours by improving the overall health of your investments. Click here.

Advertisement

7-Day Site Search
    

Breaking News



Today's Weather


Columnists



For a columnist's most recent stories, click on their name below.

 National


Roy MacGregor arrow
This Country
space
Jeffrey Simpson arrow
The Nation
space
Margaret Wente arrow
Counterpoint
space
Hugh Winsor  arrow
The Power Game
space
 Business


Rob Carrick arrow
Personal Finance
space
Drew Fagan arrow
The Big Picture
space
Mathew Ingram arrow
space
Brent Jang arrow
Business West
space
Brian Milner arrow
Taking Stock
space
Eric Reguly arrow
To The Point
space
Andrew Willis arrow
Streetwise
space
 Sports


Stephen Brunt arrow
The Game
space
Eric Duhatschek arrow
space
Allan Maki arrow
space
William Houston arrow
Truth & Rumours
space
Lorne Rubenstein arrow
Golf
space
 The Arts


John Doyle arrow
Television
space
John MacLachlan Gray arrow
Gray's Anatomy
space
David Macfarlane arrow
Cheap Seats
space
Johanna Schneller arrow
Moviegoer
space
 Comment


Murray Campbell arrow
Ontario Politics
space
Lysiane Gagnon arrow
Inside Quebec
space
Marcus Gee arrow
The World
space
William Johnson arrow
Pit Bill
space
Paul Knox arrow
Worldbeat
space
Heather Mallick arrow
As If
space
Leah McLaren arrow
Generation Why
space
Rex Murphy arrow
Japes of Wrath
space
Rick Salutin arrow
On The Other Hand
space
Paul Sullivan arrow
The West
space
William Thorsell arrow
space





Home | Business | National | Int'l | Sports | Columnists | The Arts | Tech | Travel | TV | Wheels
space

© 2003 Bell Globemedia Interactive Inc. All Rights Reserved.
Help & Contact Us | Back to the top of this page