Selected Articles


European Defense Companies Ready IPOs Amid Higher Spending, Valuations
Defense stocks are having a moment. In Europe, more companies want in.
Multiple defense companies on the continent are looking to list, as members of the North Atlantic Treaty Organization bump up military spending and defense stocks become trendier among retail investors.
Multiple defense companies on the continent are looking to list, as members of the North Atlantic Treaty Organization bump up military spending and defense stocks become trendier among retail investors.

Jet2 Lowers Guidance, Cuts Winter Seat Capacity
Jet2 shares fell in early trading after the holiday company said it expects earnings before interest and taxes to be at the lower end of market forecasts, and cut its winter seat capacity due to a later booking trend.
Shares were down 236 pence, or 15%, at 1,377 pence in early European trading Thursday, marking its lowest level since April. They are currently down 13% over the year to date.
Shares were down 236 pence, or 15%, at 1,377 pence in early European trading Thursday, marking its lowest level since April. They are currently down 13% over the year to date.

Shell Abandons Netherlands Biofuels Facility Project
Shell won’t restart construction of a Rotterdam biofuels facility, as the global market for the fuel faces a yearslong slump.

CapVest Deal to Acquire Stada Stake Values Company at Around €10 Billion
CapVest’s deal to acquire the majority stake in Germany’s Stada values the pharmaceutical company at around 10 billion euros ($11.7 billion), according to people familiar with the transaction.

Stada Eyes IPO in Autumn if Conditions Are Right
Private-equity backed Stada aims to launch an initial public offering this fall following a postponement this past spring, joining the scattering of companies queuing up to list before year-end.

Norwegian Wealth Fund Ditches Caterpillar Over Israel’s Bulldozer Use
Norway’s sovereign-wealth fund, the world’s largest, is selling shares of Caterpillar. The reason has nothing to do with profit or cash flow, but the war in Gaza.

Top consulting firms are being hit by an AI reckoning
Management consulting firms are turning to AI to navigate a turbulent business environment and pullback from major clients. While new technology is saving them hours, it’s also slowly eroding parts of their business.

Who's winning and who's getting crushed in Canada's war on U.S. wine
Sean McBride shipped about 200 cases of wine to Ontario earlier this year from Crosby Roamann, his winery in the Napa Valley area of California. They contained an assortment of Chardonnay, Sauvignon Blanc, Cabernet Sauvignon and the Bon Ton—a specialty line that derives its name and vintage label aesthetic from an early 20th-century Parisian fashion magazine.

Exclusive: Wellness startup Othership raises $11.3M to fund U.S. expansion
Toronto-based wellness company Othership has raised $11.3 million as it rapidly expands its luxury immersive sauna and ice bath social experience in the United States.
Othership raised the money through a Simple Agreement for Future Equity (SAFE). Filings show 57 unique participants in Ontario, Quebec, the U.S., Mexico, Puerto Rico, Switzerland and the Cayman Islands in the financing, which was distributed on May 31. U.S.-based investors accounted for...
Othership raised the money through a Simple Agreement for Future Equity (SAFE). Filings show 57 unique participants in Ontario, Quebec, the U.S., Mexico, Puerto Rico, Switzerland and the Cayman Islands in the financing, which was distributed on May 31. U.S.-based investors accounted for...

The Interview: Microsoft President Brad Smith
Tucked behind Web Summit’s main stage at the Vancouver Convention Centre was a room lined with rows of sand-coloured interview pods resembling horse stalls. Inside one sat Microsoft president and vice-chair Brad Smith. In an interview with The Logic before his keynote, Smith offered a sleek vision of the future of AI that formed a stark contrast with the rustic backdrop.
Though Microsoft has walked away from some data centre leases globally, it’s conti...
Though Microsoft has walked away from some data centre leases globally, it’s conti...

U.S. investors’ dominance of Canadian tech doesn't matter, industry says
There hasn’t been this much energy in downtown Vancouver since the 2010 Olympics, says Jack Newton, chief executive of AI legal software company Clio. “It’s just buzzing,” he told The Logic.
At Web Summit’s inaugural Vancouver conference, artificial intelligence dominated panels, pitches and investor chatter. Nearly every company claimed an AI angle, and many credited their momentum to funding and expertise from Silicon Valley. Despite ongoing U.S.-Can...
At Web Summit’s inaugural Vancouver conference, artificial intelligence dominated panels, pitches and investor chatter. Nearly every company claimed an AI angle, and many credited their momentum to funding and expertise from Silicon Valley. Despite ongoing U.S.-Can...

The U.S. brain drain could be Canada’s gain
When Praveen Arichandran worked at Facebook in the San Francisco Bay Area, he noticed the tech giant’s top source of talent wasn’t Harvard, MIT, or even nearby Stanford. It was University of Waterloo, his own alma mater, thousands of kilometres away in Ontario.
After stints at Facebook across continents and a role as Tesla’s director of growth, Arichandran left Canada to help build a “globally disruptive company,” and last year decided to bring his sk...
After stints at Facebook across continents and a role as Tesla’s director of growth, Arichandran left Canada to help build a “globally disruptive company,” and last year decided to bring his sk...

Investigation: The untold story of how Shopify killed DEI
It started when protestors marching against police brutality toppled a statue of Sir John A. Macdonald in downtown Montreal. It was the fall of 2020 and Shopify employees were watching four of their colleagues debate the legacy of one of Canada’s most important and controversial political figures.
The virtual town hall had been called because Kaz Nejatian, a recently arrived, fast-rising executive, had publicly pledged to put up $50,000 to restore the...
The virtual town hall had been called because Kaz Nejatian, a recently arrived, fast-rising executive, had publicly pledged to put up $50,000 to restore the...

University of Waterloo withholds prestigious coding competition results over suspected AI cheating
After returning to Canada after a few years in Colombia, Marulanda De Los Rios soon fell behind in ninth grade classes that required him to read and write in English. But math required no code-switching, and he excelled at it—so unlike his peers, he dove into the University of Waterloo’s Canadian Computing Competition (CCC) and other exams throughout high school just for the challenge.
Students around the world enroll in the gruelling CCC to better their...
Students around the world enroll in the gruelling CCC to better their...

The OSC says looser regulations in the U.S. could lead to Canadian exodus
Speaking on stage at the Ontario Securities Commission’s annual symposium in Toronto on Thursday, CEO Grant Vingoe said Canadian capital markets risk facing a “hollowing out.” A looser and more favourable U.S. regulatory environment, including in sectors that the Trump administration has supported, like crypto, could entice Canadian companies to move there.
To combat this, the commission is focused on both short and long-term measures to reduce regulatory burdens. Last week the Canadian Securit...
To combat this, the commission is focused on both short and long-term measures to reduce regulatory burdens. Last week the Canadian Securit...

Canadian business travel to the U.S. rebounds after February slump
After falling 10 per cent in February, travel bookings by Canadian businesses nearly recovered in March—down just 1 per cent from last year, according to data from Corporate Traveller, a subsidiary of major travel agency Flight Centre Travel Group. Corporate Traveller helps small and medium-sized companies book trips and serves clients including Bumble and Aston Martin.
The “substantial pullback” in travel in February occurred when “the rhetoric about tari...
The “substantial pullback” in travel in February occurred when “the rhetoric about tari...

Trump’s trade war derails IPO comeback
Market volatility is staving off a wave of initial public offerings that were expected to come this year, as U.S. President Donald Trump’s tariff policies drive up uncertainty on both sides of the border.
There were no new corporate IPOs completed on the Toronto Stock Exchange or the Venture Exchange last quarter. It was at least a five-year low for the quarter, in terms of number of listings on the two exchanges combined.
There were no new corporate IPOs completed on the Toronto Stock Exchange or the Venture Exchange last quarter. It was at least a five-year low for the quarter, in terms of number of listings on the two exchanges combined.

Stock market rout deepens after historic plunge
A historic plunge in stock markets deepened Friday, a day after the S&P 500 suffered its worst drop since the 2020 COVID-19 pandemic. U.S. President Donald Trump’s trade offensive has shattered investor confidence, led to growing uncertainty, and threatened to pummel the U.S. economy into a recession.

Exclusive: Sanctuary AI is selling its stake in Apptronik as it tries to raise US$175M
Sanctuary AI is selling its US$125-million majority stake in Apptronik, another humanoid robotics company that recently clinched a US$1.4-billion valuation.
The startup is also looking to raise US$50 million as it tries to compete with bigger, better-funded robotics firms.
The startup is also looking to raise US$50 million as it tries to compete with bigger, better-funded robotics firms.

Exclusive: SRTX has a deal to raise roughly US$40M as it scrambles to stave off insolvency
Montreal textiles manufacturing company SRTX has raised roughly US$40 million from key investors in a deal that would see founder Katherine Homuth step down as CEO, The Logic has learned, as the company works to stave off an insolvency that some expect could otherwise come as soon as next month.
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Real estate investment startup admits to $26M in unregistered trading

Glencore is in talks to acquire Li-Cycle, the beleaguered Canadian EV battery recycling company
The Canadian arm of Swiss multinational Glencore is in non-binding talks to acquire Toronto-based Li-Cycle, once expected to be a key link in North America’s EV supply chain.

Desjardins CEO eyes fresh acquisitions as trade war escalates
An all-out trade war with the U.S. isn’t deterring Desjardins from its acquisition spree. The financial services group is willing to take on additional tariff-related costs as it hunts for property and casualty insurance companies to beef up its portfolio, according to its chief executive.
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