Corporate governance - Vigil

Rogers Communications Inc. RCI-B-T has signed a deal to sell its portfolio of nine data centres to InfraRed Capital Partners. Financial terms of the sale were not immediately available. Under the agreement, Rogers will continue to sell data centre services on behalf of InfraRed and will provide network connectivity to the data centres. The deal does not include Rogers corporate data centres used for the company’s network and IT purposes. Rogers says the transaction is part of its planned sale of real estate and non-core assets. Net proceeds are expected to be used to repay debt. InfraRed is part of the asset management business of Sun Life.

Some Air Canada flights that were scheduled to take off today are being cancelled as the airline braces for a work stoppage this weekend. The union that represents around 10,000 Air Canada flight attendants is poised to strike just before 1 a.m. on Saturday, as the airline also plans to lock out those workers. Air Canada said it will begin cancelling flights Thursday, with more disruptions Friday. A complete stoppage would take effect Saturday if it doesn’t reach a last-minute deal with the flight attendants’ union. It said customers whose flights are cancelled will be eligible for a full refund, and it has also made arrangements with other Canadian and foreign carriers to provide alternative travel options “to the extent possible.” The airline is expected to provide further details at a news conference with senior airline executives this morning in Toronto.

Superluminal Medicines said on Thursday it had signed a deal with U.S. drugmaker Eli Lilly worth up to $1.3 billion to discover and develop obesity drugs. The deal will give Lilly access to Superluminal's proprietary platform to discover drug targets related to cardiometabolic diseases and obesity. Superluminal's lead oral obesity drug candidate is expected to begin human trials next year. As part of the deal, Superluminal is eligible to receive upfront and milestone payments, an equity investment as well as tiered royalties on net sales, the company said.

Brazilian government on Wednesday unveiled a plan to support local exporters affected by a 50 per cent tariff imposed by U.S. President Donald Trump on several products from the South American nation. Dubbed “Sovereign Brazil,” the plan provides for a credit lifeline of 30 billion reais (US$5.5 billion), among other measures. Hours later, U.S. Secretary of State Marco Rubio announced new sanctions against at least two Brazilian officials, in a move the South American nation’s health minister rebuked. Brazil’s President Luiz Inácio Lula da Silva described the plan, which includes a bill to be sent to Congress, as a first step to help local exporters. The leftist leader, whose poll numbers have gone up since the tariffs against his country were announced, once again said he and Trump have never spoken, and claimed the American president does not want to negotiate. 

The bank has been lining up for potential buyers of the business, which could attract private equity firms and private credit players, as per the report. No final decision has been made in regards to the business – which has about $11 billion in assets – and BMO might opt to hold onto it, Bloomberg said. Bank of Montreal declined comment on the report. The bank’s transportation finance arm provides loans and leases, which are tailored primarily for trucks and trailers across North America. It also serves inventory financing and fleet cost management needs for the sector. Bank of Montreal had acquired General Electric Capital Corporation’s transportation finance business about a decade ago, to boost its commercial banking at the time.

e Syndicat des travailleurs et travailleuses des postes (STTP) annonce deux jours de négociations avec Postes Canada. Le syndicat, qui représente environ 55 000 travailleurs des postes, indique que les deux parties ont rencontré des médiateurs fédéraux mardi et qu’il a convenu de rencontrer Postes Canada vendredi et lundi. Ces négociations surviennent à la suite du rejet par les travailleurs de la dernière proposition de Postes Canada, qui prévoyait des augmentations salariales d’environ 13 % sur quatre ans et une restructuration visant à inclure des travailleurs à temps partiel. Le syndicat affirme que son interdiction nationale des heures supplémentaires demeure en vigueur. Les négociations en vue d’une nouvelle convention collective durent depuis plus d’un an et demi. Postes Canada a dit que sa dernière offre, rejetée par les travailleurs, reflétait « la réalité actuelle de l’entreprise tout en protégeant les éléments importants pour les employés ».

In today’s landscape of persistent macroeconomic uncertainty, the role of a director has never been more critical — or more under scrutiny. A recent survey by Spencer Stuart of 2,400 CEOs revealed a concerning insight: Less than 24% feel their boards are effectively supporting them in navigating today’s volatile environment. With escalating geopolitical risks, the accelerating AI and technology revolution and ongoing economic shiftsbecoming the “new normal,” directors must take deliberate, strategic action to become true partners to CEOs. The principles outlined here apply broadly to boards, including both founder and multigenerational owners and private equity-backed firms. While the composition of board members varies, founder-led and multigenerational boards lean into operational expertise and long-term vision, while heritage-majority private equity boards lean into financial oversight and value creation aligned with specific investment objectives. 

Amid heightened political and regulatory scrutiny, many large US public companies are limiting or reframing public disclosures around their diversity initiatives: 53% of the S&P 100 adjusted their DEI messaging in major filings in 2025, according to a study by The Conference Board. At America’s biggest firms, use of the “DEI” acronym dropped by 68% compared to 2024 filings. Additionally, 21% reduced or removed DEI-related metrics and targets. “This shift in public disclosure doesn’t signal companies are abandoning DEI. Rather, they’re selectively reframing commitments, reducing public exposure, and embedding oversight more quietly yet firmly into governance and human capital management. Looking ahead, leaders must balance legal defensibility and stakeholder expectations with long-term business priorities,” said Andrew Jones, coauthor of the report and Principal Researcher at The Conference Board.

India's Atomic Energy Regulatory Board (AERB) said it held a bilateral technical meeting with the U.S. Nuclear Regulatory Commission to strengthen cooperation on nuclear safety and regulation as India looks to expand its nuclear power capacity. An Indian delegation participated in the meeting held from August 6 to 8 at the NRC headquarters in Rockville, Maryland, the AERB said in a statement dated August 12. The meeting comes as India seeks to expand its nuclear power generation capacity to at least 100 gigawatts by 2047, up from just over 8 gigawatts currently. The countries discussed regulation of new and advanced reactors, codes and standards for advanced reactor technologies among others, the AERB said. Both sides identified potential areas for future collaboration, it said. In April, Reuters reported that India was relaxing rules to allow foreign entities to hold minority stakes in nuclear power projects.

The world's biggest retailer of IKEA furniture said on Wednesday CEO Jesper Brodin was stepping down after eight years, to be succeeded by Spaniard Juvencio Maeztu, the first non-Swede to lead the group. Maeztu takes the top job at Ingka Group as the Swedish retailer grapples with U.S. tariffs, wars and geopolitical tensions that risk disrupting its operations spanning 31 countries from Europe to China, India and the United States. Brodin, CEO since 2017, said his decision to step down was not easy, but that it was the right time to do so. Maeztu is to start in the new role by November 5, with Brodin staying at the company until the end of February to ease the transition. Deputy CEO and chief financial officer since 2018, Maeztu, 57, started at IKEA in 2001 as manager of the Alcorcon store in Madrid, later managing the Wembley store in London, before a six-year stint as CEO of IKEA India.

The chief executive of Quebec’s largest pension fund manager is warning that the full impact of tariffs is still to come, and that pent-up pressure is likely to push economic growth down and drive prices higher in the final months of the year. Charles Emond, the CEO of the Caisse de dépôt et placement du Québec, said Tuesday that investors have been pleasantly surprised that U.S. tariff policies imposed by the Trump administration haven’t caused more damage, or more immediately pushed inflation higher. But it is increasingly evident that many companies stocked up on inventory in advance and, in many cases, kept prices steady while waiting to see where whipsawing tariff levels settle. It is now becoming clear that effective tariff rates will be significantly higher than they were, and Mr. Emond expects the health of the U.S. economy to worsen.

Former SNC-Lavalin Group chief executive Jacques Lamarre has been found guilty of seven of 14 allegations of misconduct made against him by Quebec’s professional order for engineers. Last fall, the disciplinary council of L’Ordre des ingénieurs du Québec began several days of hearings to decide whether Mr. Lamarre infringed the organization’s code of ethics and professional duties in the early 2000s when he was CEO of SNC-Lavalin, now known as AtkinsRéalis Group Inc.. These hearings followed an investigation by the Ordre’s Office of the Syndic, which then launched a formal complaint against the former engineering executive. The Syndic made 14 separate allegations against Mr. Lamarre as part of its disciplinary complaint, which are related to previous legal cases involving the company. The allegations link broadly to SNC-Lavalin’s past business conduct as it sought contracts in Libya, as well as past political financing activities in Montreal.

The Ontario government is boosting efforts to turn the province into an unlikely shipbuilding centre in the hope that its underutilized shipyards can land a multibillion-dollar contract for new Canadian navy corvettes. On Monday, Premier Doug Ford and Vic Fedeli, the Minister of Economic Development, met with senior executives of Algoma Steel of Sault Ste. Marie., Ont., Canada’s second-biggest steelmaker. “We let them know that if they try to pivot into supplying the defence industry and other areas, we would be there to help them,” Mr. Fedeli told The Globe and Mail. Algoma, the country’s only publicly listed steel producer, could make steel plate for ships and other heavy military equipment if Ontario Shipyards of Hamilton, the largest ship repair and construction company on the Great Lakes, were to win the corvette contract.

Oracle and Alphabet said on Thursday their cloud computing units have struck a deal to offer Google's Gemini artificial intelligence models through Oracle's cloud computing services and business applications. The deal, similar to one that Oracle struck with Elon Musk's xAI in June, will let software developers tap Google's models to generate text, video, images and audio while using Oracle's cloud. Businesses that use Oracle's various applications for corporate finances, human resources and supply chain planning will also be able to choose to use Google's models inside those apps. Those Oracle customers will be able to pay for the Google AI technologies using the same system of Oracle cloud credits they use to pay for Oracle services. The two companies did not disclose what, if any, payments will flow between them as part of the deal.

The Ontario government says it is now launching the “next pillar” in its plan to protect the province from tariff-related hardships with a new program providing emergency loans to businesses in the hardest-hit sectors. During a news conference at Queen’s Park on Wednesday, Ontario Finance Minister Peter Bethlenfalvy said up to $1 billion will be allocated for emergency loan support for businesses in the province’s steel, aluminum, and auto sectors as part of the Protect Ontario Financing Program. “This program is specifically designed to address businesses impacted by Sec. 232 tariffs only after they have exhausted all federal tariffs support programs,” he told reporters on Wednesday. Bethlenfalvy said the program is a “key part” of the provincial government’s plan to keep workers on the job but also to “build a more resilient and self-reliant economy.” 

Nippon Steel promised to spend $14 billion to keep U.S. Steel’s aging plants humming for decades. A deadly blast at a mill near Pittsburgh will test the Japanese steelmaker’s resolve through a costly crisis. Crews are continuing to clean up and restore operations at the Clairton, Pa., plant where an explosion Monday killed two workers and injured 10 others. U.S. Steel officials said the blast reduced the company’s ability to produce coke—a key steelmaking input—at its Mon Valley Works complex. Jim Borkowski, an employee with 21 years of service, was among those transporting injured workers from the wreckage. “It was chaos; we ran to help whoever and do whatever we could,” he said. Mon Valley was a focal point of Nippon Steel’s negotiations with President Trump. Two months ago he approved the purchase of U.S. Steel after the Tokyo-based company significantly increased its investment commitments.

Des représentants d’ouvriers qui assemblent les avions de chasse de Boeing, actuellement en grève, ont sollicité mercredi le soutien d’élus américains, dans l’espoir d’augmenter la pression sur le géant de l’aéronautique, alors que les négociations sont au point mort. « Nous vous demandons respectueusement de nous rejoindre pour soutenir cette main-d’œuvre hautement qualifiée, dont le rôle est d’une importance vitale », a écrit le syndicat des machinistes dans des lettres adressées aux représentants et sénateurs du Missouri, qualifiant la dernière offre de Boeing de « médiocre ». Quelque 3200 membres du District 837 du syndicat IAM (International Association of Machinists and Aerospace Workers) sont en grève depuis le 4 août, après avoir rejeté la proposition de nouveau contrat d’entreprise de l’avionneur américain. Les deux parties n’ont pas repris les discussions depuis le début du débrayage.

Les actions de Vêtements de Sport Gildan grimpaient de plus de 10 % en début de séance après l’annonce du rachat de HanesBrands pour 2,2 milliards US. La société montréalaise Gildan affirme que cette transaction lui permettrait de gagner en taille et de se développer dans un secteur très concurrentiel. « Cette journée marque un moment historique dans le parcours de Gildan », souligne le président et chef de la direction de Gildan, Glenn Chamandy, dans un communiqué. « Grâce à cette opération, nos produits d’exploitation doubleront et nous atteignons une envergure qui permet de nous distinguer nettement. » La société issue de la fusion tirera parti de la présence de Hanes dans le commerce de détail et de l’expertise de Gildan dans le domaine des vêtements de sport pour étendre la portée des deux entreprises, selon M. Chamandy. La société soutient que les synergies devraient permettre de réaliser des économies de 200 millions US sur trois ans.

Despite its financial relevance, reputation is still too often treated as a reactive concern. It’s left solely to crisis communications, compliance, legal or incident response. But reputation failures rarely occur in isolation. They amplify other risks potentially and can trigger regulatory scrutiny, leadership turnover, loss of stakeholder trust and long-term value erosion. While boards may receive updates about reputational issues, for those directors who want to get ahead of the next crisis, there is an opportunity to govern the conditions that create more organizational resilience and cultivate reputation as a competitive advantage. One challenge for boards is operating with an oversight lens to guide preparation for reputation risk while avoiding overreach into management.

KKR will launch a sales process for its £7bn recycling group Viridor next month, seeking to capitalise on strong appetite for infrastructure assets. Viridor could attract interest from suitors including Hong Kong conglomerate CK Hutchison’s infrastructure arm, and the investors Equitix and Brookfield, according to people familiar with the matter, who cautioned that other bidders could yet emerge. KKR’s infrastructure unit bought Viridor from London-listed Pennon Group five years ago, in a £4.2bn deal. It was also one of the largest transactions agreed during the market turmoil triggered by the coronavirus pandemic, with the US private capital firm sealing the transaction in March 2020. UK-based Viridor’s businesses include recycling and waste management as well as a carbon capture storage venture in Runcorn in north-west England, which might receive government support.

The American Bar Association will no longer set aside five seats on its Board of Governors for women, racial minorities and other underrepresented groups under a change approved Tuesday by the ABA's policymaking body. Those seats will now be open to candidates who are committed to “advancing the values of diversity, equity, and inclusion,” regardless of their demographic backgrounds, the ABA's House of Delegates said. The change comes as the ABA, which is the largest voluntary lawyer organization in the United States, faces mounting scrutiny of its diversity and inclusion efforts during President Donald Trump's second term. An ABA spokesperson declined to comment on the change Tuesday morning.ve to three.

President Trump on Tuesday appeared to call for Goldman Sachs Chief Executive David Solomon to replace the bank’s top economist over his past predictions, in his latest broadside against executives he believes are undermining his goals. Trump said on his Truth Social social-media platform that Solomon should “go out and get himself a new Economist” because the bank made a “bad prediction a long time ago” on the market and tariffs. The president asserted that tariffs haven’t caused inflation or other issues for the U.S. economy. He also questioned whether Solomon himself should focus on just being a DJ, a reference to the bank chief’s former side gig. Trump appears to be referring to Jan Hatzius, the bank’s longtime chief economist, though he didn’t call him out by name or title. Hatzius is well-known on Wall Street for forecasting in 2008 that mortgage defaults could lead to a severe recession.

The hostile bidder for MEG Energy Corp. believes any rival offer that includes government support, such as loan guarantees, for Indigenous partners would amount to an unfair subsidy rarely seen in Canadian private-sector auctions. “Any Indigenous purchase funded through a government backstop would be a direct subsidy to the private-sector partner,” Adam Waterous, executive chairman of Strathcona Resources Ltd., told The Globe and Mail in a statement Tuesday. He was responding to a Bloomberg News report that Cenovus Energy Inc. is in talks with two Alberta First Nations to jointly launch an offer for MEG that could be backed by financial support from federal and provincial governments.