Business Brief: Trump vows tough new tariffs on imports from Canada and Mexico

Good morning. In Focus today, we go behind the sale of CI Financial Corp. to an arm of a Middle Eastern sovereign wealth fund. After a turbulent decade

In a statement e-mailed to media, Deputy Prime Minister Chrystia Freeland and Public Safety Minister Dominic LeBlanc highlighted the countries’ shared interest in border security and the essential role Canada plays in the U.S. energy supply. To bring these tariffs into force, Trump would likely be met with pushback from U.S. businesses, which would be on the hook for those import taxes. He could also face legal challenges that might threaten or delay the measures.

The deal comes after a failed effort to list its U.S. operation on the New York Stock Exchange in 2022, which heightened investor concerns over the debt the company had racked up from a spate of recent acquisitions. a 33-per-cent premium to Friday’s closing price of $24.01 – valuing the Canada’s largest independent asset manager at $4.7-billion.

In 1994, the company rebranded to C.I. Fund Management and listed on the Toronto Stock Exchange, marking a period of rapid growth. By 2003, four years after making Holland its CEO, the company had grown 10 times in size since its public offering.

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