Here are five things you need to know this morning
Feds to announce fraud measures: The Canadian Press is reporting the federal government will announce measures today to counter fraud and strengthen Canadians’ financial security, in the latest in a series of pre-budget announcements. Finance Minister François-Philippe Champagne is to be joined at a news conference by Public Safety Minister Gary Anandasangaree and Stephanie McLean, secretary of state for seniors. Champagne is slated to present the federal budget November 4.
Tech outage resolved: A tech outage hit many parts of the online world this morning – but it has now been resolved. Amazon Web Services says its service has recovered from a widespread disruption this morning. The outage affected a range of its customers including government agencies, AI companies and financial platforms. The company says it fixed the issue with a regional gateway on the East Coast of the United States.
Iamgold buying Northern Superior: Iamgold is buying Northern Superior Resources in a deal valued at $267.4 million dollars. Shareholders of Northern Superior will receive a combination of cash and Iamgold common shares in the agreement. The deal will consolidate the gold miner’s significant land package in Quebec’s Chibougamau district. Iamgold also announced they’ll be acquiring another Quebec miner, Mines D’Or Orbec.
Dye & Durham suing Plantro: Dye & Durham is suing a holding company owned by its former chief executive to force them to honour a truce signed in July. The embattled provider of cloud-based legal practice management software says it is launching legal action against Plantro to enforce terms with a recent cooperation agreement between the two. Plantro is a large minority shareholder in Dye & Durham, owning about 11 per cent of its shares. The company is the investment vehicle of former CEO Matthew Proud. Dye & Durham says it will primarily seek a declaration that the cooperation agreement remains fully valid and in force as well as an injunction to keep Plantro and Proud from breaching its terms.
Expensive perfume: French luxury goods maker Kering is selling its beauty division to L’Oreal in a deal value at 4 billion euros. The transaction includes the sale of perfume maker House of Creed, which Kering bought only two years ago. The two companies also said they’ll work together to create, develop and distribute fragrance and beauty products for Kering’s Gucci, Bottega Veneta and Balenciaga brands. Kerig’s other brands include Bottega Veneta, Creed, Maui Jim, and Alexander McQueen.
