TORONTO, Jan 21 (Reuters) – A Canadian government-backed
investment fund set up to help revive the country’s ailing
venture capital industry raised C$217.5 million ($198 million)
at its initial closing, its backers said on Tuesday.
The Northleaf Venture Catalyst Fund raised C$145 million
from institutional and corporate investors, including Canada’s
biggest banks, with the rest contributed equally by the federal
and Ontario governments.
TORONTO (Reuters) – The Canadian dollar weakened against its U.S. counterpart on Friday but staved off a breach of C$1.10 as the divergent paths of the two countries’ recent economic data and monetary policy outlooks force investors to reassess the loonie’s value.
The currency slipped 0.7 percent, or three-quarters of a cent, on the week to hit a four-year low against the greenback and has failed to gain ground on most other major currencies after falling 2.5 percent last week.
TORONTO (Reuters) – The venture capital arm of one of Canada’s largest pension funds is raising a second, larger round of funding to invest in Canadian technology startups, its chief executive said on Thursday.
OMERS Ventures has already secured some funding from its parent, the Ontario Municipal Employees Retirement System, for the second round and has invested some of it, but is now negotiating for more funding from outside sources, CEO John Ruffolo told Reuters on the sidelines of a technology conference.
TORONTO, Jan 16 (Reuters) – Canadian upstart stock exchange
applicant Aequitas Innovations Inc has tweaked its proposed
trading model after its initial plan was rebuffed by Ontario’s
securities regulator, the company and the regulator said on
The Ontario Securities Commission (OSC) revealed on Thursday
it had blocked Aequitas’ initial proposal because it restricted
access to visible orders, which breaks OSC rules ensuring fair
TORONTO (Reuters) – Western Canada-focused Shaw Communications Inc posted a 4 percent rise in first-quarter profit on Tuesday, but it continued to lose customers in its main cable television business.
The Calgary, Alberta-based cable company, which is facing tough competition for TV and Internet customers from telecom rival Telus Corp and a burgeoning threat from online alternatives such as Netflix Inc, said it lost 29,619 cable-TV subscribers and 9,323 satellite TV customers.
TORONTO, Jan 13 (Reuters) – Globalive’s Wind Mobile said it
has withdrawn from Canada’s 700 megahertz wireless spectrum
auction, due to start on Tuesday, after its main backer,
Vimpelcom Ltd, decided not to fund Wind’s participation.
The move all but assures that the country’s biggest
telecommunications providers, BCE Inc’s Bell, Rogers
Communications Inc and Telus Corp – will take
the lion’s share of the limited resource.
TORONTO, Jan 7 (Reuters) – The Canadian dollar hit
its weakest level against its U.S. counterpart since 2010 on
Tuesday after Canada posted a surprisingly steep widening of its
trade deficit, eroding market hopes the beleaguered export
sector might be recovering.
The November deficit and a sharp downward revision to
October’s trade numbers knocked the wind from a nascent growth
spurt for the Canadian economy, while a sharp contraction in
purchasing activity in an Ivey survey for December added to the