Raptors are most valuable franchise, Canadian app sued by SEC, and more top news

The news Canadian professionals are talking about now, curated by LinkedIn’s editors. Join the conversation by clicking the hashtags below.

The Toronto Raptors are now the most valuable franchise in Canada, surpassing the Toronto Maple Leafs and Blue Jays. The Raptors are currently valued at $1.8 billion, over triple the amount when they began snagging a string of division titles in 2014, while the Leafs are valued at $1.45 billion and the Blue Jays at $1.5 billion. The Raptors' breakthrough to the NBA finals helped pump up the valuation, but consistent wins are key to driving up the value even more, experts say. ? Here’s what people are saying.

The U.S. Securities and Exchange Commission is suing Canadian messaging app Kik for raising $100 million through an allegedly illegal token sale in 2017, on the grounds that Kin, the digital token, should have been registered as a security. Kik, however, asserts that its token should be treated as a currency and has launched a crowdfunding campaign, DefendCrypto, that has raised over $4 million to fight the SEC's claims. This legal battle could help clarify rules surrounding initial coin offerings amid the regulatory fog surrounding startups. ? Here’s what people are saying.

Workers shouldn’t stay at a company for very long if they aren’t moving up the ladder, according to CNN. Employees early in their careers should aim for a promotion roughly every three years, says ZipRecruiter’s chief, Ian Siegel. When changes in title aren’t possible, additional responsibilities, new projects and new skillsets are key to showing advancement to recruiters. Why the rush? Feelings of stagnation can hit engagement and performance. ? Here’s what people are saying.

Fiat Chrysler backed out of a deal with Renault after the French government asked for a delay in voting for the merger until partner Nissan supported it, reports The Wall Street Journal, citing anonymous people. The French government — Renault's biggest shareholder — said it did not want to jeopardize Renault's alliance with Nissan, according to Journal sources. The USD$40 billion deal between Renault and Fiat would have created the world’s third-largest automaker; the two companies were looking to merge in order to cut production costs by combining resources. ? Here’s what people are saying.

The United States and Mexico failed to reach an immigration deal to stave off looming tariffs. Amid surging border apprehensions, President Trump last week threatened to slap tariffs on Mexican goods, starting at 5% on Monday, which will increase gradually if Mexico doesn't adequately stem the flow of migrants. ? Here’s what people are saying.

Idea of the Day: In order to be successful, a global perspective is as necessary as professional skills, Professor Young Joon Park advises Peking University HSBC class of 2019.

“Many of you will gradually climb up the ladder and start taking more important roles. You will soon become leaders of the society and would need to start seeing the bigger picture…  I hope you can also think about how you can be a good cooperative player that can lead to building better societ[ies].”

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

— Jessica Hartogs