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University of California’s Investment Arm Seeks 10% Stake in Big Ten College Sports Conference

By Barbara Shecter | Published November 10, 2025

The University of California owns a pension fund. UC Investments now aims to buy a 10 percent stake in the Big Ten Conference. The fund moves to join one of the top and rich college sports groups in the United States.

Jagdeep Singh Bachher leads UC Investments. He works as chief investment officer and vice-president of investments. At a Toronto conference on Monday, he shared the plan. He manages a portfolio worth about US$180 billion. He said the offer was made recently. He hopes the deal will close by November 21. “We just made an offer to buy 10 percent of the Big Ten, which is the big sports conference in the U.S.,” Bachher stated. He also holds the role of chancellor at the University of Waterloo. He spoke at a conference put on by the Canadian university.

The Big Ten Conference hosts well-known sports events. It runs events like the Rose Bowl with pride. It wins money from long TV contracts, including a deal with Fox Sports. These tight links help the conference earn large revenues. They make it a strong place for investment.

Earlier reports on Yahoo Sports from October 10 noted talks to put about US$2.4 billion into the 18 schools of the Big Ten. Investors want to form Big Ten Enterprises. This group will run the conference’s commercial work. Other major funds like Apollo Global Management and Blackstone showed interest too.

Frontofficesports.com explained that the plan would spin the Big Ten’s assets into a private fund. That fund would be known as Big Ten Enterprises. UC Investments would then own 10 percent of the new company. The agreement asks all Big Ten schools to sign a grant of rights. This deal would bind the schools to the conference until 2046. Still, some university board members worry. They open debates about the plan.

Bachher explains that his bid is not just venture capital. He speaks of buying what he calls “cultural capital.” He sees sports as a key link. Sports bring together technology, media, and youth today.

“I think the future for our young generation is the one thing that glues people to technology and content: sports,” Bachher said. He mentioned the recent buzz when the Toronto Blue Jays ran to the World Series. They lost in seven games to the Los Angeles Dodgers, yet the effort was memorable.

Bachher added that the chance stretches beyond old-school sports. It covers eSports, media, entertainment, and tech too. “That creates a whole unique set of opportunities… There’s an incredible opportunity set there. So that’s where I’ve been just immersed, in that whole area. It’s been a lot of fun,” he said.

He spoke in a joint session with Orlando Bravo, founder and managing partner of Thoma Bravo. Bravo’s firm works with software investments. For the past 100 days, Bachher focused hard on sports deals. This focus shows a clear shift in the fund’s strategy.

Bachher did not share more on the bid at the Toronto event. Still, the move connects big institutional funds with college sports. The deal, if it goes through, may bring more private money to collegiate athletics and change its financial world.

Contact: Barbara Shecter at bshecter@nationalpost.com


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Moneyball: Assessing the Financial Impact of the Blue Jays’ Near World Series Triumph on Rogers Communications

By Garry Marr, Financial Post – November 7, 2025

The Blue Jays reached the 2025 World Series. They battled hard and lost Game 7 to the Los Angeles Dodgers. This race meant more than a chance for a title. It changed how investors view Rogers Communications Inc. The company is Canada’s largest telecommunications firm and owns the Blue Jays. Rogers now sees that each close link between performance and profit matters.

Rogers’ Sports Holdings: A Valuable Sports Empire

Rogers holds two big sports assets. One is a 75% share in Maple Leaf Sports & Entertainment Ltd. (MLSE). MLSE owns the Toronto Maple Leafs (NHL), the Toronto Raptors (NBA), and Toronto FC (MLS). The other is a full 100% interest in the Blue Jays (MLB). Rogers’ CEO Tony Staffieri recently set the worth of these assets at over $15 billion. In a report, the National Bank of Canada valued the MLSE teams at about US$10.2 billion. The Raptors were at US$5.22 billion and the Maple Leafs at US$4.25 billion. Toronto FC was valued at US$730 million. The Blue Jays were pegged at US$2.39 billion. Their value grew five percent in just one year. This was before their striking playoff run.

Playing for Keeps: Preparing for a Public Offering

Rogers plans to own all of MLSE soon. The company will buy the remaining 25% share from Larry Tanenbaum’s Kilmer Group in about 18 months. Rogers then wants to spin off its sports assets into a public company. Investors who care about sports may find this plan attractive. The Blue Jays’ playoff push has lifted interest among fans in Toronto and across Canada. This surge boosts ticket sales, merchandise, and media attention. These benefits support Rogers’ goal to raise the sports business’s market value before it goes public.

The Financial Upside of Playoff Performance

A World Series title would have brought extra cash, but the playoff run still carries big rewards. In Major League Baseball, gate receipts help both players and teams. Every extra day in a full best-of-seven series moves revenue closer to the team. The players share half of the receipts from Wild Card games. They then get 60% for early playoff rounds and four games in the League Championship Series and the World Series. The winner earns the biggest pot, but the runner-up still gets a good share. In 2024, players gained US$129.1 million from playoff ticket shares. This is more than the US$107.8 million in 2023. The longer playoff series of the Blue Jays added extra energy to Rogers’ ticket revenues.

Merchandise, Media Rights, and Branding Impact

Merchandise sales rise when teams do well. Advertising money also grows as more people watch the games. The excitement over the Blue Jays’ Game 7 chase lifts the team’s brand. This boost helps Rogers earn more from media and merchandise. When a team wins hearts, the money follows on and off the field. Rogers will soon spin off these assets, hoping to catch this wave.

Conclusion

Even though the Blue Jays did not become champions, their playoff run helped Rogers Communications. The team’s shortfall did not stop a fresh surge in fan support, ticket sales, and media buzz. These gains lift the value of Rogers’ sports assets before the public offering. A win might have given an immediate bonus, but steady growth and strong brand value matter most to investors. Rogers will watch these trends closely as it plans its next steps.


The Financial Post’s sports and finance coverage will continue to track changes in how teams and companies work together.

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How Soaring Government Debt Could Play a Starring Role in the Next Great Financial Crisis

By Barbara Shecter | Published October 27, 2025

Governments now face huge debts. They see deficits that risk global economic calm. Experts now warn that the U.S.—the world’s main engine—could spark or worsen the next major crisis because of its growing red ink.

The Growing Wall of Debt

Since the COVID-19 crisis, U.S. debt has shot up. It now reaches about US$37 trillion. Each year, a deficit of nearly US$1.8 trillion adds up. This figure is about 6% of GDP. Spending cuts have not slowed this rise. Deep political divides and a missing fiscal plan make debt cuts hard.

In April 2025, debt caught public attention. President Donald Trump put double-digit tariffs on over 80 countries on “Liberation Day.” At first, investors ran from stocks. They chose safe assets like U.S. Treasury bonds. Soon, however, this flight ended.

Rising Yields and Investor Anxiety

Bond prices then dropped. Yields climbed. Investors now ask for higher returns as risk grows. Ten-year Treasury yields hit 4.5%, up from 3.9%. Meanwhile, 30-year yields moved past 5%. This jump alarmed many economists.

Mark Manger, director of the Global Economic Policy Lab at the University of Toronto’s Munk School, has studied debt crises in Argentina and Nigeria. He sees this rise as strange in the market known for safety. “It is the part where observers are starting to freak out,” he said. His words show that investors now worry that rising yields harm the famed U.S. Treasury bond.

Higher yields also mean that paying back debt may hurt the economy. The U.S. Treasury market, a key part of global finance, may no longer seem the safest spot.

Potential Global Fallout

This warning goes far beyond the U.S. U.S. Treasuries and similar bonds sit at the heart of debt markets. Many banks, pension funds, and central banks hold them. A drop in their value might shake global finance.

Juan Carlos Hatchondo, an economics professor at Western University, studies sovereign debt. He explained that U.S. Treasuries work as collateral in repo deals. These deals help banks keep cash flowing overnight. If their value falls, liquidity in the system will suffer.

Foreign governments also hold these bonds. A drop in value would hurt their reserves and worsen economic shocks. In our connected system, one bad sign may start a global chain reaction.

The Looming Crisis?

A February 2025 study by the Brookings Institution said that a full U.S. default is not needed to cause a crisis. The fear of a strategic default or poor fiscal management alone might shake faith in U.S. debt. This loss of trust lowers asset values, weakens banks, and may spark a worldwide recession.

Reports from the Financial Post note that the debt crisis is not only in Washington. From Canada to the U.K. and Japan, high debts unsettle markets. Yet, the U.S. holds a special weight on the world scene. Its fiscal health can shift global economics.

What Lies Ahead?

With Canada’s Federal Budget on November 4th and similar events around the globe, all eyes are on governments. Political gridlock, high debt, and fears over safe assets put policymakers to the test.

For now, soaring U.S. government debt darkens the future of financial stability. The coming financial crisis may depend on how well the U.S.—the largest economy—manages its fiscal path and how investors see these moves.


For continued in-depth analysis on government debt and its global implications, visit FinancialPost.com and stay tuned for daily updates throughout the fiscal season.

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Canadian Banks Lower Prime Rates Following Bank of Canada’s Cut

October 29, 2025 – The Bank of Canada cut its policy rate. Canadian banks then lowered their prime lending rates by 25 basis points. On October 30, the prime rate drops from 4.70% to 4.45%.

On Wednesday, the Bank of Canada lowered its policy rate by a quarter point to 2.25%. It did this to boost economic activity. Major banks acted quickly. Royal Bank of Canada, TD Canada Trust, Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Desjardins Group, Laurentian Bank of Canada, and Bank of Nova Scotia all changed their rates.

The prime rate is a key benchmark. It guides lending on lines of credit, variable-rate mortgages, and loans. Lowering the prime rate cuts borrowing costs. Consumers and businesses then spend and invest more.

This move is part of a wider monetary plan. The plan works to control inflation and aid growth. Cutting prime rates helps lower borrowing costs for households and companies.

Financial experts say borrowers should note these changes. Lower prime rates can reduce interest on variable-rate debts. They also create better conditions for new loans.

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How Soaring Government Debt Could Play a Starring Role in the Next Great Financial Crisis

By Barbara Shecter | Published Oct 27, 2025

Governments around the world carry heavy debt. They face rising worry about what this debt may cause. The United States, which drives the global economy, sits in a risky spot. If the U.S. runs into fiscal trouble, markets everywhere may fall hard.

The Increasing Burden of Sovereign Debt

Sovereign debt climbs fast in recent years. Pandemic costs, economic boosts, and budget gaps push the debt higher. The U.S. holds about US$37 trillion in debt. It runs a yearly deficit near US$1.8 trillion – about six percent of its GDP. Even as people like Elon Musk plead for less spending, the deficit barely slows down.

Many countries grow their debt too. Yet the United States matters more because it issues U.S. Treasury securities. These bonds support global finance. Pension funds, banks, and foreign governments all hold large amounts of them.

Troubling Signs from the Treasury Market

This year, market changes signaled trouble. After President Donald Trump set steep tariffs on over 80 countries – a day some called "Liberation Day" – investors ran from unstable stocks. They moved into U.S. Treasury bonds, and yields dropped. Soon, yields on 10-year bonds jumped from 3.9% to 4.5%. Thirty-year yields went past 5%.

When yields rise, bond prices drop. This fall shows that investors worry about U.S. debt. Mark Manger from the University of Toronto’s Munk School pointed out that this move looks like a warning seen in risky markets like Argentina or Nigeria. He said, "This is the part where observers start to freak out… because it’s not supposed to be like this."

Risks of a U.S. Debt Crisis

A drop in trust for U.S. Treasuries has huge risks. Investors see U.S. debt as the benchmark safe asset. A crisis here can shake global markets. It may lower asset prices, unsettle banks, and push economies into recession.

Research from the Brookings Institution explains that a crisis need not wait for a default. The fear of unsustainable debt may trigger panic and capital flight.

Juan Carlos Hatchondo from Western University highlights the risk. U.S. Treasuries often act as collateral in repo deals. If their value falls sharply, daily banking and market trades can break down. Many foreign governments store reserves in U.S. debt. A drop in value may weaken their finances and spread instability today.

Political Challenges Compound the Problem

The debt issue worsens with U.S. political fights. Sharp political divides make sound fiscal plans hard. Sudden policy shifts, like those seen after the tariff move, hurt market trust. This doubt stops leaders from taking clear steps to fix the debt. In the near term, any plan to manage the swelling debt seems hard to reach.

Looking Ahead

With the November 4 Federal Budget near, Canada and other nations face their own debt matters in a tougher world. Yet the U.S.—with its large role in finance—stays the main focus.

Investors, policymakers, and economists keep a close watch. High government debt, tense political fights, and shaky markets mix into a storm. This storm might lead to the next great financial crisis, one with global consequences.

For continuous coverage of sovereign debt and deficits, stay tuned to FinancialPost.com.

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EQB Announces 8% Workforce Reduction Amid Restructuring Efforts in Canada’s Banking Sector

October 23, 2025 — EQB Inc., which runs Equitable Bank (Canada’s seventh largest by assets), will cut its workforce by eight per cent. The bank makes these changes to work more efficiently. It is the latest layoff in Canada’s banking scene this year.

Details of the Restructuring Plan

On Wednesday, EQB said its restructuring will cost about $67 million. This cost covers worker cuts and impairment charges. The fourth‐quarter report will show these expenses. Analysts say about 160 full-time jobs will end.

Chadwick Westlake, EQB’s CEO, said, "We are taking action for the future. We make firm decisions that boost productivity. These moves improve our operating leverage and efficiency ratio. We are ready to capture new profit opportunities." He noted that the bank will reignite its core, grow its line of products, and build world-class operations.

Industry Context and Analyst Perspectives

EQB’s decision came soon after the Bank of Nova Scotia cut an unknown number of jobs. Toronto-Dominion Bank also planned a two per cent cut in May. Darko Mihelic, an analyst at Royal Bank of Canada, called EQB’s change "hesitantly positive." He said, "We expected EQB to take a restructuring charge. However, an eight per cent cut is larger and came sooner than we thought. We still see EQB as a fast-growing company."
Mike Rizvanovic, an analyst at the Bank of Nova Scotia, added that the cuts help fight expense headwinds. He warned that such a drop in jobs might hurt morale since EQB has not faced such layoffs in recent years.

Broader Banking Sector Trends

EQB’s layoffs join a trend in Canada’s banking sector. Many banks now restructure to cut costs and work more efficiently. They face tough market conditions and stronger competition. Financial experts watch keenly to see how these changes will affect EQB’s growth, employee spirit, and service quality moving forward.


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Canada Unveils National Anti-Fraud Strategy and Establishes New Financial Crime Agency

By Naimul Karim, Financial Post — October 20, 2025

The Canadian government fights fraud. It launches a national anti-fraud plan and creates a new financial crime unit. Finance Minister François-Philippe Champagne spoke at a press event on Monday. His words stress the need to act fast as fraud grows.

Escalating Financial Fraud Sparks Government Action

Financial fraud in Canada climbs high. Losses jumped 300 percent since 2020. The Canadian Anti-Fraud Centre shows Canadians lost about $643 million in 2024. Only 5 to 10 percent of scams get reported officially. The Canadian Bankers Association sees fraud costing about $11 billion each year. That loss equals roughly 0.53 percent of the country’s GDP.

Fraud touches many areas. Scammers use text, email, and social media to reach victims. Minister Champagne said, “Firms in technology, telecommunication, and finance must step up.”

Key Components of the National Strategy

The strategy comes with next month’s federal budget. It tells banks to use strong rules to fight fraud. This step aims to protect Canadians. Seniors, for example, lost $176.6 million last year.

The government will also work with banks and other groups on a voluntary code. This guide helps banks spot and stop economic abuse. It offers clear steps to keep customers safer.

A New Agency Dedicated to Fighting Financial Crime

Minister Champagne now sets up a new federal agency. This agency leads the fight against fraud, money laundering, and related crimes. It also works to recover stolen money. The move shifts from scattered efforts to a focused plan.

Special experts will head this agency. Champagne noted, “You need people with strong investigative skills who can target organized crime.” New laws and changes will support this step. The government plans to act quickly.

Broader Government Commitment

Multiple agencies already work on fraud in Canada. Yet, as scams evolve, a more unified response is needed. Minister Champagne stresses more teamwork between banks and government bodies.

Canada faces rising financial crime. This plan, with easier rules and focused action, aims to restore trust in the financial system and protect all Canadians.


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Scotiabank Announces Layoffs Across Multiple Departments Amid Organizational Transformation

By Naimul Karim | Published October 17, 2025

Scotiabank—the Bank of Nova Scotia—has started layoffs in Canada. The bank did not reveal the number of positions. Sources confirm that layoffs have run since September.

A Strategic Shift Towards Efficiency and Growth

The bank shifts focus. Scotiabank uses its resources to grow and work more efficiently. In a statement late in September the bank said it must manage resources well to serve clients and keep growth steady.

“Aligning our organization and our resources around our focus areas for growth, including finding ways to be more efficient, is a part of managing our bank effectively,” the bank said. “We will continue to prioritize and invest in areas that best meet the needs of our clients and deliver sustainable growth.”

Aris Bogdaneris, head of Scotiabank’s Canadian business, sent a memo to staff. He said a change this big is hard. He noted the bank must cut back on tasks that take time and add little value.

Employee Experiences and Communication

Employees got short, tight messages. One HR team member said a call informed them about the staff cuts, but there was little chance to ask questions. Staff talk shows that cuts come from many parts of the bank.

Return-to-Office Policy and Broader Industry Context

The layoff news came after a return-to-office announcement. This marked a big change after long remote work. Scotiabank is not alone. In May, Toronto-Dominion Bank cut about two percent of its workforce as changes began.

Looking Ahead

Scotiabank now aims to blend efficiency with client needs and growth. The bank has not given more details on further cuts or future changes.

These events mark a clear shift in Canada’s financial world. Banks adjust as economic and work-place trends evolve.


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BMO to Sell 138 U.S. Branches to First-Citizens Bank, Plans to Open 150 New Locations Mainly in California

October 16, 2025 | Financial Post

BMO announced a plan. It will sell 138 U.S. branches to First-Citizens Bank & Trust Co. and open 150 new branches in the next five years. The new branches will be built mainly in California. Each word links closely to the next. This simple chain helps you follow the news easily.

Branch Sale Focused on Midwest Locations

BMO sells branches in the American Midwest. The sale covers branches in North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, and Idaho. It also includes selected branches in Minnesota, one branch in Oregon, and one in Illinois. First-Citizens Bank takes these branches. It also gets about US$5.7 billion in deposits and buys roughly US$1.1 billion in loans. At closing, BMO receives a net deposit premium of five percent. Each fact connects closely to its description.

Expansion Strategy Targeting Growth Markets

After the sale, BMO plans to open 150 new branches. The bank picks U.S. markets with real growth. It focuses mainly on California but will not limit itself to that state. BMO wants to reach more clients and build stronger ties. "This reallocation allows us to deepen client relationships and deliver the full power of BMO to our clients," said Aron Levine, BMO’s U.S. president. For him, each branch is a place for financial advice and a community hub. Every phrase links directly to its purpose.

Financial Impact and Timeline

BMO expects a goodwill impairment charge of about US$75 million. This charge will appear in the fourth quarter, before and after tax. The bank also sees a US$85 million tax expense at closing. The transaction needs regulatory approvals and customary closing conditions. The deal is set to close by mid-2026. Short words and clear links keep the story easy to read.

Looking Ahead

BMO makes a clear choice. It sells smaller or less profitable branches while focusing on high-growth regions. This change helps the bank serve customers and communities more effectively. The realignment strengthens BMO’s position in the U.S. financial markets. Each sentence builds on the last to form a clear chain of ideas.


For further details or inquiries: Naimul Karim at nkarim@postmedia.com

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BMO CEO Voices Concern Over Canada’s Waning Focus on Economic Growth and Trade Barriers

By Naimul Karim | Published October 15, 2025

At the Toronto Global Forum on Wednesday, Darryl White, the CEO of Bank of Montreal, raised concerns about Canada’s slow move on economic growth. He pointed out that Canada talks much about strong economics. However, his speech stressed the need for clear, fast steps. Canada must cut internal trade barriers and build key infrastructure to keep growing. White warned that without real actions, Canada may lose ground, especially when U.S. tariffs challenge it.

A Call for Action Over Conversation

White said, "We need a little less conversation and a little more action." His words link removing trade barriers with speeding up infrastructure projects. These actions aim to fight the economic strain caused by U.S. tariffs. He noted that while talks about tariffs show Canada’s natural resources, the energy in these discussions is at risk. Without firm measures, the country may fall behind.

Tax Competitiveness a Key Concern

White also stressed problems with Canada’s tax rates. He said Canadian taxes are not as low as those in other countries. This fact does not get enough talk in policy circles. "Are we competitive in tone? Are we competitive on tax? I know the answer to that is absolutely not, and that’s not being talked about enough," he said. He explained that investors follow easy paths. Rhetoric on its own will not keep international capital in Canada. White warned that unless changes come, even those attracted by recent positive talks may soon leave.

Internal Trade Barriers: An Opportunity to Strengthen the Economy

White believes that cutting internal trade barriers may boost Canada’s economy. He argued that these actions could cancel out the shocks from uncertain trade talks under CUSMA. This agreement, which helps most Canadian exports to the U.S. avoid tariffs, will be renegotiated next year. White said, "Acting quickly within our own borders to enhance trade fluidity could overwhelm almost any adverse impacts from trade negotiations abroad." He noted that while dealings with the U.S. are on the right track, domestic reforms must come now.

Navigating a Shifting North American Trade Landscape

White discussed U.S. trade policy as well. He said that although the U.S. shows an "America First" approach, it does not mean complete isolation. He claims Canada can still play an important role. "Canadians might not like to hear it, but if Canada were second in an America-first world, this notion of North American advantage starts to become real," he said. Despite tension in the media and politics, both nations work hard to use their strengths.

BMO’s Strong Quarterly Performance Amid Economic Unease

During the talk, White noted BMO’s strong quarterly results. He recognized that major Canadian banks enjoyed a good report. Still, he warned that not all parts of the economy show the same strength. He mentioned that while investment banking and wealth management perform well, slow loan growth and rising credit issues on "Main Street" pose worries. White explained, "Earnings headlines are driven by averages, so caution is warranted. It’s like having your feet in the freezer and your head in the oven—you feel fine on average, but it’s pretty uncomfortable."

Looking Ahead

White is also worried about Canada’s unemployment rate, now at 7.1 percent. He sees labor market challenges that could affect the broader economy if ignored. As Canada prepares for tough trade talks and reforms inside its borders, White’s message is clear. The country must move from talk to action on tax issues and trade barriers. Quick, focused changes are needed for a strong economic future.


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