National Business

TORONTO — Canada's big banks say they have the cash reserves needed ahead of a potential economic slowdown, while minimizing the risks it poses to their finances.

WINNIPEG — Manitoba's tourism industry has a new slogan and marketing campaign to try to lure more visitors.

HALIFAX — The Nova Scotia securities regulator is warning about a cryptocurrency scam that has so far cost residents hundreds of thousands of dollars.

TORONTO — Energy prices will likely be volatile in the first quarter of 2023 as geopolitical uncertainty continues, Deloitte said.

TORONTO — Online media company Gonez Media (GMI) says it has acquired Now Magazine. Financial terms of the agreement were not immediately available. Now Magazine published its last print edition last year, but has maintained its website.

CALGARY — Cenovus Energy Inc. says its refinery throughput for the fourth quarter of 2022 and the first quarter of 2023 will be weaker than expected.

TORONTO — TMX Group Ltd. has signed a deal to buy a 21 per cent stake in VettaFi Holdings LLC for $234 million. U.S.-based VettaFi is a privately owned data, analytics, indexing and digital distribution company.

TORONTO — A management-led group of Canaccord Genuity Group Inc. employees has made a takeover bid for the company valued at $1.127 billion. The employee group is offering $11.25 per share for the financial services firm.

MONTREAL — Payment technology company Nuvei Corp. has signed a deal to buy U.S. company Paya Holdings Inc. valued at US$1.3 billion. Under the agreement, Montreal-based Nuvei will pay US$9.75 per share in cash.

VANCOUVER — Lululemon Athletica Inc. raised its revenue guidance for its fourth quarter, but lowered its expectations for its gross margins. The company, which keeps its books in U.S.