Browsing: Business News

Radical Ventures raised US$1B for Canada’s largest-ever VC fund, joining RBC and Intrepid in a capital push to keep AI startups from leaving for the U.S.

Bruce Flatt told Brookfield’s investor day the AI race is already losing momentum because the industry cannot build data centres fast enough, Bloomberg reported.

The canal drops to 29.5 daily transits in October. Canada’s Pacific ports bypass the waterway entirely, which makes this global squeeze land differently here.

Calgary’s Ultimarii raised more than $13 million led by BDC’s venture fund, with IRAP support. Its stated priority for the money includes deeper U.S. regulatory data.

Intrepid Growth Partners closed a US$525-million AI fund on the opening day of Carney’s investment summit, with 55 per cent of the money raised abroad.

Former Nike executive Heidi O’Neill became Lululemon’s chief executive on Sept. 8, five days after the retailer slashed its full-year outlook and sent shares to an eight-year low. Founder Chip Wilson, valued at US$6.5 billion by Forbes, still holds roughly 8.7 per cent of the company and is bound by a standstill that bars him from criticizing it publicly.

Transat reports Thursday after $175 million in extra fuel costs over two quarters. Ottawa is now its lender, its creditor and a 19.9 per cent shareholder.

Tamarack Valley Energy and Headwater Exploration will merge in an all-stock deal valued at about $10 billion, creating the largest publicly traded producer in Alberta’s Clearwater oil play.

United Steelworkers Local 1998 settled with the University of Toronto on Tuesday after a 96 per cent strike mandate. AI protections were among the sticking points.

Copper hit a record US$14,617 a tonne Tuesday. Canada ships 99 per cent of its refined copper to the U.S., nearly all of it from one Montreal refinery.