Barrick announces hostile bid for Newmont, Tim Hortons opens in China, and more top news

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Barrick Gold has launched a USD$17.8 billion hostile bid for Newmont Mining. The Toronto-based firm said the all-share, no-premium transaction was a "once in a lifetime" opportunity for the world's biggest gold companies. Colorado-based Newmont recently announced its own deal to acquire Vancouver-based Goldcorp for US$10 billion, a deal which Barrick has asked Newmont to drop. Exploring ways to boost production led Barrick to study a bid for Newmont, reports Bloomberg. ? Here’s what people are saying.

Tim Hortons will launch its first restaurant in China today with the opening of a Shanghai outlet. The coffee-and-doughnut chain aims to have 1,500 Chinese outlets in a decade. The brand hopes a Canadian image — including a red maple leaf wall hanging in store and a maple macchiato on the menu — will appeal to Shanghai customers. Tim Hortons president Alex Macedo told The Globe and Mail that the chain was late to enter the Chinese coffee market. ? Here’s what people are saying.

One of Canada’s leading biotech startups, Clementia Pharmaceuticals, has been bought by Paris-based Ipsen for US$1.04 billion. The deal is the largest in Ipsen’s 90-year history. The Nasdaq-listed company’s lead drug, palovarotene, is expected to hit the market in a year. Clementia founder and chief executive Clarissa Desjardins said the agreement demonstrates the maturity of Canada’s biotech ecosystem. ? Here’s what people are saying.

Ontario-based Sunrise Records paid USD$1.15 million for HMV's assets and business, documents show. Canadian music store mogul Douglas Putnam pipped U.K. Sports Direct founder Mike Ashley to the post, buying HMV out of administration earlier this month. The Canadian company has so far reopened seven of the 27 HMV stores that were closed down as part of a deal with KPMG. Launched in 1921, the music retailer entered administration in December with trading debts of almost USD$70 million. ? Here’s what people are saying.

Tesla founder Elon Musk is facing fresh scrutiny from the Securities and Exchange Commission (SEC) after he tweeted: “Tesla made 0 cars in 2011, but will make around 500k in 2019.” The SEC asked a judge to hold Musk in contempt for violating a settlement he made that pledged he would consult the company before social media posts or other communications that could materially impact investors. Musk got into hot water with the SEC last year after saying that he had the funding to take Tesla private. ? Here’s what people are saying.

Idea of the Day: You might not be saving lives or teaching the next generation, but that doesn’t mean the work you’re doing isn’t meaningful, says Hays CEO Alistair Cox.

“Start to see the real, tangible value you and your skills bring. This might not be immediately obvious at first glance, but trust me, the impact you’re having is real.”

What's your take on today’s stories? Share your thoughts in the comments.

— Carmel Melouney