Here are the top reads on deals and financial services over the last 24 hours,
Top shareholder fires back at Aimia in board battle following Aeroplan’s sale: Aimia Inc.’s largest shareholder is firing back at the loyalty rewards company after two new directors were appointed, setting up a public clash between the New York-based fund and the company’s leadership. Story (Tim Kiladze)
Pipeline delays have helped Canadian Pacific reach better contracts with producers, CEO says: Delays in building new pipelines have reshaped the volatile business of hauling Alberta crude by train into one with a longer, more lucrative horizon, says Keith Creel, chief executive officer of Canadian Pacific Railway Ltd. Story (Eric Atkins)
Non-bank lenders attract wave of money, CMHC report on mortgages says: Mortgage Investment Corporations have provided billions of dollars in new lending to Canadian home buyers since 2016 as tougher mortgage qualification rules have driven far more business to private lenders, according to a new report from Canada’s national housing agency. Story (Janet McFarland)
Freshii appoints new CFO: Healthy fast-food chain Freshii Inc. appointed a new chief financial officer Tuesday, as it seeks to rebuild investor confidence after a long streak of disappointing results. Story (Joe Castaldo)
Saskatoon software star Vendasta raises $40-million as it anchors flourishing tech sector: Brendan King ran a clothing store in the 1980s, sold IBM clones in the 1990s, joined Canada’s top-ranked dot-com business in 2000 and now runs one of Canada’s most successful cloud software scaleups, a fast-growing company called Vendasta Technologies Inc. that’s on track to generate almost $40-million in revenue this year. Story (Sean Silcoff)
Facebook shouldn’t be trusted with ‘delusional’ cryptocurrency plan, U.S. lawmakers say: Democratic and Republican lawmakers said on Tuesday that Facebook Inc’s track record of what they described as untrustworthiness should stand in the way of it launching a digital currency, labelling the plan “delusional” and “crazy” at a Senate hearing. Story (The Associated Press)
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