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People Corp. makes deal to raise $9 million

People Corporation, the Winnipeg-based national provider of group benefits with offices across Canada, has entered into a deal with underwriters to raise about $9 million in new equity.

The offering is for 4,187,00 shares at $2.15 per share.

The proceeds will be used to pay down debt and continue to fund the company's growth strategy of adding partners to its group benefits network.

People Corp. shares closed up one penny to $2.36 on Wednesday.

 

Winnipeg firm to act on behalf of feds

The World Trade Centre Winnipeg, a bilingual trade and networking organization, is taking over the federal government's component of the Canada/Manitoba Business Service Centre.

The three-year contract at $825,000 per year will mean the WTC will deliver free information on behalf of the federal government on everything to do with business startups, expansion and international expansion.

It will also provide liaison services with 31 regional offices in the province that provide some of that information.

The original downtown office of the Canada/Manitoba Business Service Centre will continue to offer the provincial Business Start program.

The WTC offices are at 219 Provencher Blvd.

Goldman Sachs ponders leaving trading floor

NEW YORK -- Goldman Sachs is considering selling its business unit that matches buyers and sellers on the floor of the New York Stock Exchange, according to a person familiar with the investment bank's thinking who spoke on condition of anonymity.

The business is one of six on the floor of the exchange responsible for reducing volatility in stock trading. If Goldman completes the sale, it would follow Bank of America in departing from the floor of the exchange. Bank of America sold its market-making business to Getco, an electronic trading firm, in November 2011.

Goldman acquired its business on the floor of the exchange when it bought Spear, Leeds & Kellogg in 2000 for $6.5 billion.

Even though the brokers on the floor of the exchange are still the face of Wall Street, appearing in photographs that accompany stories about stocks, their importance to the market has gradually eroded as regulations have changed and more trading is done electronically.

 

 

 

Republished from the Winnipeg Free Press print edition April 3, 2014 A15

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