New OSC head Grant Vingoe wants stronger powers for banking sector ombudsman: The agency that takes complaints from the public about investment firms needs more teeth to ensure consumers who have been wronged are compensated, the new acting head of the Ontario Securities Commission says. (Greg McArthur)
ApplyBoard, fast-growing tech platform for school recruitment, gets ‘unicorn’ valuation: The school-application company ApplyBoard Inc. is now valued at $2-billion, closing its second round of venture financing in less than a year as it hires by the hundreds even in the midst of the pandemic. (Josh O’Kane)
Element AI cuts staff, adds senior executives as it attempts to live up to early hype: One of Canada’s most heavily financed artificial intelligence startups, Element AI Inc., has hired its first chief financial officer and chief revenue officer as part of a restructuring effort that has also seen it lay off 15 per cent of staff. (Sean Silcoff)
OMERS Ventures invests in Ottawa work-from-home technology startup Tehama: The Ontario Municipal Employees’ Retirement System has made its first new venture-capital investment in Canada in nearly two years, backing an Ottawa remote-working technology startup that has experienced a surge in demand during the pandemic. (Sean Silcoff)
SNC-Lavalin chair Kevin Lynch stepping down before annual meeting: Kevin Lynch, the former top federal bureaucrat who lobbied the government on behalf of SNC-Lavalin Group Inc., is stepping down as the company’s chairman and will leave its board later this year. (David Milstead)
Can a desperate Cirque du Soleil avoid Quebecor’s embrace?: With almost no revenue coming in and creditors on its heels, you’d think Cirque du Soleil would be jumping at Pierre Karl Péladeau’s offer to ride to the rescue. (Konrad Yakabuski)
Thomson Reuters reports higher first-quarter revenue despite pandemic: Thomson Reuters Corp. reported resilient first-quarter earnings as subscription revenue helped insulate the company from the economic damage done by the novel coronavirus, but lowered its revenue targets for the rest of the year. (James Bradshaw)
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