What we're reading 'round the Web.
The quietest target in proxy battle history? Canadian Pacific CEO Fred Green has silently endured attacks on his performance for months. Why hasn’t he mounted a more forceful defence of his tenure?
Speaking of Bill Ackman ... Activist investor Bill Ackman has racked up further support for his Canadian Pacific Railway Ltd. proxy crusade, as a second proxy adviser states its support for “a far-reaching overhaul of the board and senior management in order for CP to achieve results closer to those of its peers.”
Telus withdraws hotly contested share-consolidation proposal Realizing its share-consolidation proposal faces certain defeat at the hands of an activist U.S. hedge fund, Telus has pulled the plug on the plan.
Hong Kong cracks down on IPOs False or misleading information included in the IPO listing documents could land bankers two years in jail and stiff fines if proposed changes to Hong Kong securities regulations go through.
Europe braces for a slew of bank downgrades Moody’s Investors Service is set to cut the credit ratings of more than 100 banks, stoking fears of restricted lending and new barriers to economic growth.
Is this the worst research note ever? Zero Hedge thinks so.
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