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Bank towers are photographed in Toronto’s Bay Street financial district on May 11, 2017.Gary Hershorn/The Globe and Mail

Good morning Streetwise readers. Here are the best reads of the week. Have a great weekend.

A surprising flurry of share sales has opened the floodgates for Canadian companies yearning to raise cash, marking the end of a financing drought and reversing the fortunes for Bay Street underwriters behind these deals. Story (Tim Kiladze, for subscribers)

Playing catch-up with its much bigger peers has been the story of Laurentian Bank's life since it was founded 171 years ago as the Montreal City and District Savings Bank. Since taking over as chief executive officer two years ago, François Desjardins has seemed to be winning the race. Opinion (Konrad Yakabuski, for subscribers)

The long-term outlook for Canadian natural gas prices is ugly. Yet there remains a large pack of small- to medium-size gas producers, most just scraping by. This is when consolidation should shift into high gear, especially as the industry struggles to be relevant to major investors. Story (Jeff Jones, for subscribers)

Northleaf Capital Partners is expanding its private-credit business as institutional investors around the world push more money into loan strategies in pursuit of higher returns. The Toronto-based firm is set to announce the closing of its first global credit fund, Northleaf Private Credit I, having amassed $670-million (U.S.) in investor commitments. Story (Jacqueline Nelson, for subscribers)

The meteoric rise in the price of bitcoin – which surpassed $16,000 (U.S.) on Thursday – has buoyed the hopes of cryptocurrency enthusiasts, even as concerns about a bubble continue to mount. Story (Alexandra Posadzki)

The hottest investment on the planet is about to take a major step toward legitimacy – but Wall Street believes that is a risky move. In just days, bitcoin will complete its journey from the obscure corners of the internet to the heart of modern finance. Story (Joanna Slater, for subscribers)

A fledgling Vancouver venture capital firm that has had an unusual success rate early in the life of its first fund is aiming to raise almost three times as much with its second capital pool – and making quick work of it. Story (Sean Silcoff, for subscribers)

Canada's investment regulators are raising the alarm over wealth management firms that fail to follow the industry-funded ombudsman's recommendations to compensate clients after a dispute. Story (Clare O'Hara)

Kinder Morgan Canada Ltd. is selling $200-million in shares even as the company dials back spending and warns of additional delays to its marquee Trans Mountain pipeline expansion. Story (Jeff Lewis)

Laurentian Bank of Canada is trying to calm jittery investors, suggesting shareholders overreacted when they sent its share price tumbling after the bank disclosed problems with some mortgages it issued. Story (James Bradshaw)

One of Canada's unheralded software success stories, Ottawa-based Titus Inc., is selling a majority ownership stake to U.S. private equity giant Blackstone Group LP. Story (Sean Silcoff, for subscribers)

If it was only about the money, Rogers Communications Inc. would have sold off high-profile holdings such as baseball's Toronto Blue Jays years ago. Analysis (Andrew Willis, for subscribers)

Mark Skapinker built some of Canada's top software firms in the 1990s, then became one of Canada's leading venture capitalists in the 2000s. Now, he's drawing on both experiences with his latest plan: to turn traditional venture capital on its head. Story (Sean Silcoff)

With consumers embracing healthier lifestyles and conglomerates scrambling to keep pace with fast-changing food choices, global giant Nestlé SA is shelling out $2.3-billion (U.S.) to acquire Montreal's Atrium Innovations Inc., a privately owned company that specializes in natural and organic nutritional products. Story (Tim Kiladze and Nicolas Van Praet)

It took a string of major hurricanes to dent Bank of Montreal's fourth-quarter earnings, capping an otherwise strong year that revealed few weaknesses in the Big Six banks' capacity to churn out greater profits. Story (James Bradshaw)

Laurentian Bank said an audit had found "documentation issues and client misrepresentations" on some mortgages it had sold to another company, triggering the worst one-day selloff in its shares since 2009. Story

Because interest rates remain so low and profits are subdued, Manulife Financial Corp. has been debating what to do with certain parts of John Hancock, its struggling American business. Rumours of a sale or spin-off of Manulife's struggling units, particularly those that pay annuities, have swirled for a while. Story (Tim Kiladze, for subscribers)

The head of exchange-traded funds for AGF Management Ltd. will be leaving the company at the beginning of 2018. Story (Clare O'Hara, for subscribers)

YESTERDAY'S FINANCIAL SERVICES AND DEALS WRAP

President Donald Trump took aim at the third-largest U.S. bank on Friday, writing on Twitter that government fines and penalties against Wells Fargo & Co could be hiked amid an ongoing sales scandal. Story

Construction company Aecon Group Inc. says it has received two regulatory permissions needed for it to be sold to a Chinese state-owned company for $1.5-billion. Story

The Canada Pension Plan Investment Board is investing $320-million in a partnership with more than a dozen modern logistics properties in Hong Kong. Story

U.K. business chiefs called for a swift and comprehensive trade agreement with the European Union as Brexit negotiations moved onto shaping the country's future relationship with the bloc, with just 15 months remaining before Britain is due to leave. Story (for subscribers)

AmorChem has raised a $44.2 million second fund to invest in seed-stage biotechnology companies. AmorChem II was backed by the Québec government, Fonds de solidarité FTQ, Merck, and other investors. BetaKit

Kinepolis Group NV has completed the acquisition of Landmark Cinemas Canada LP from TriWest Capital Partners and Landmark management shareholders. Initially announced in September 2017, the acquisition closed today following the approval by the Minister of Canadian Heritage. Private Capital Journal

Machine learning and artificial intelligence are finding their way into the dark pools that allow asset managers to execute multiple large block trades simultaneously, without leaving ripples in the market place. Institutional Investor

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 3:15pm EDT.

SymbolName% changeLast
ARE-T
Aecon Group Inc
+0.94%17.1
BMO-N
Bank of Montreal
+1.45%97.78
BMO-T
Bank of Montreal
+1.36%132.55
BX-N
Blackstone Inc
+0.5%131.54
KMI-N
Kinder Morgan
+1.43%18.41
LB-T
Laurentian Bank
+0.04%28.04
MFC-N
Manulife Financial Corp
+1.82%25.11
MFC-T
Manulife Fin
+1.85%34.05
RCI-N
Rogers Communication
-0.15%41.14
WFC-N
Wells Fargo & Company
+0.62%57.97

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