EQB to acquire PC Financial from Loblaw for about $800M

Canadian lender EQB Inc. is set to acquire the banking division of Canada’s largest supermarket chain, a strategic move aimed at enhancing its deposit and credit card operations.

EQB has announced its intention to acquire PC Financial from Loblaw for a total of $800 million. This acquisition is part of EQB's strategy to expand its financial services offerings and enhance its market presence.

Canada's business productivity saw a modest improvement in the third quarter of 2025, coinciding with a rise in hourly wages. However, this positive development occurred alongside a decrease in hours worked, attributed to ongoing economic uncertainties, including the impacts of a trade war.

Canada's services Purchasing Managers' Index (PMI) has fallen to a five-month low in November, indicating a contraction in the services sector amid ongoing economic challenges. This decline reflects a broader trend of weakening economic activity as businesses face uncertainty.

Canadian space-technology company MDA Space Ltd. is preparing to raise approximately C$250 million ($179 million) through its inaugural high-yield bond sale later this week, as reported by Bloomberg. This move indicates the company's strategy to tap into the high-yield bond market for funding.

Canada is set to change its federal income tax brackets in 2026, which may result in lower income tax payments for some taxpayers due to a reduction in the lowest income bracket. This adjustment aims to alleviate the tax burden on lower-income individuals and families.

Vale SA and Glencore Plc are exploring a joint copper project in Canada, aiming to capitalize on the anticipated surge in copper demand as global electrification accelerates. This collaboration reflects both companies' strategic interests in enhancing their market presence in the copper sector.

Fairstone Bank of Canada has entered into an agreement to acquire Laurentian Bank of Canada for approximately 1.9 billion Canadian dollars, equivalent to about $1.36 billion. This acquisition marks a significant move in the Canadian banking sector, indicating Fairstone Bank's strategy to expand its market presence.