September 30, 2023


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Streetwise newsletter: Life insurance industry opposes Ontario’s new regulations of financial adviser, planner titles

Life insurance industry opposes Ontario’s new regulations of financial adviser, planner titles: Canada’s life insurance industry is opposing a proposal by the Ontario government that would prevent people licensed to sell insurance from using the title “financial adviser” or “financial planner.” (Clare O’Hara)

Cogeco Communications to acquire Quebec cable company DERYtelecom: Cogeco Communications Inc. has struck a deal to acquire Quebec-based cable company DERYtelecom for $405-million. DERYtelecom is the third-largest cable provider in Quebec, offering internet, television and telephone services to about 100,000 customers in more than 200 municipalities across the province. (Alexandra Posadzki)

Investors sharply cut value of holdings in quantum computer maker D-Wave: One of Canada’s most heavily funded early stage technology companies, quantum computer developer D-Wave Systems, undertook a costly refinancing this year that wiped out most of the value of some long-time investors, including the U.S. Central Intelligence Agency’s venture capital arm, Amazon CEO Jeff Bezos and fund giant Fidelity Investments, according to public filings and three sources. (Sean Silcoff)

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Market shrugs off antitrust suit against Google in sign of Big Tech’s power: The market wasted no time in rendering its own judgment on the U.S. government versus Google antitrust lawsuit. Instead of falling, Alphabet’s stock price jumped and continued to rise on Wednesday. The overwhelming reaction to the landmark antitrust assault amounted to a big shrug. Disagree if you will, but many investors now believe Big Tech is so powerful it can chuckle at government’s efforts to rein it in. (Ian McGugan)

Renewable energy Boralex company names new CEO: Canadian renewable power producer Boralex Inc. has named Patrick Decostre its new chief executive officer as the company pushes ahead with an aggressive growth strategy in an industry picking up momentum. (Nicolas Van Praet)

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