National Bank to buy Canadian Western Bank, household wealth jumps to record high and lessons from Swiss Chalet: Business and investing news for June 16Getting caught up on a week that got away? Here’s your weekly digest of the Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.buying Canadian Western Bank
in a pending stock-swap deal that values the Canadian Western Bank at $5-billion, or $52.24 a share, extending the reach of the country’s sixth-largest lender into Alberta and British Columbia. After the news,, jumping 70 per cent to $42.35 in midafternoon Wednesday on the Toronto Stock Exchange.
tells the story of how he went from creating EncroChat, one the world’s many encrypted phone services to a French prison, accused of building a digital den for Europe’s drug dealers. The messages delivered by his company were encrypted end-to-end, meaning that no one – not even EncroChat – could decode the conversations.
warning of frightening new developments in artificial intelligence, Geoffrey Hinton, the godfather of AI, e-mailed The Globe’s Ian Brown to ask if he wanted to have lunch. Hinton had supported and given input on but not signed the famous letter. “I want to talk to you about sentience in machines,” he said.captures the bruising, years-long family battle for control of the Recipe Unlimited Corp, which owns restaurant chains including Swiss Chalet and Harvey’s.
Kimber spoke with Andrew Willis about the book and the family that was one of Canada’s wealthiest in the 1990sA previous headline for this article inaccurately stated that Capital Bank is planning to buy Canadian Western Bank. National Bank is planning to buy Canadian Western Bank. This version has been updated.