Corporate

Bank of Montreal will exit Canada's AIR MILES program in 2026, jeopardizing 15-20% of Diversified Royalty Corp.'s AIR MILES revenue segment. The move reflects a global banking trend toward proprietary loyalty systems, with major Canadian banks now operating independent programs mirroring strategies used by US and European financial institutions.

US regulators have assigned a 70% confidence level to catastrophic outcomes for Live Nation Entertainment, including forced divestiture of Ticketmaster or severe operational restrictions. The antitrust action targets the company's 70-80% control of major venue ticketing nationwide, threatening to dismantle the $20 billion vertically integrated model that combines the world's largest concert promoter with dominant ticketing infrastructure.