A hostile takeover bid may be soon underway in the mining sector. The latest mergers and acquisitions news in Canada suggests that in what would be the nation's largest scale mining deal ever, Barrick Gold may make a hostile takeover bid for Newmont Mining stocks to the tune of $19 billion. Barrick would funnel some of Newmont's assets to an overseas project.
A major Ontario financial corporation is shelling out big money to invest in the legal cannabis industry. Trichome Financial Corp. out of Toronto is leaping into the business and commercial sector of the cannabis world with $100 million in debt financing for a number of cannabis companies. Up until now, this sort of debt financing has been a rarity in the cannabis sector, but Trichome is already taking receivables as a guarantee from some of the country's leading cannabis companies.
The 5G network in Canada may ban Huawei Technologies Co. That decision, though, may be delayed by Prime Minister Justin Trudeau's efforts to try to safeguard three Canadians detained in China. The business and commercial world is waiting for a security review by the federal government as to what steps will be taken in terms of a possible Huawei freeze out. Some of the country's allies have already taken that step.
Canadians are an optimistic lot for the most part, so when they begin to complain about certain situations, there must be some basis in fact. There have been some pessimistic rumblings lately regarding the business and commercial world in Canada. In fact, a survey by the Chartered Professional Accountants of Canada (CPA Canada) showed that 35 per cent of accountants who responded to the survey felt an increased negativity when it came to the national economy.