What we're reading 'round the Web.
Clock is ticking on Maple’s TMX bid Already struggling to comply with demands from the federal Competition Bureau over its bid for TMX, Maple now finds itself facing new demands from securities regulators in British Columbia -- a turn which threatens to split the consortium.
Sources now rate the deal’s odds of succeeding at 50/50.
Ontario’s rich aren’t going anywhere Fears of well-heeled Ontarians fleeing to Alberta or hiding their money in the Cayman Islands in response to Ontario’s new tax on those earning north of $500,000 are way overblown, says Professor of economics Kevin Milligan.
Only around one quarter of the top 1 per cent actually make this kind of dough, he explains. Plus, the vast majority of these earnings come from wages, not entrepreneurialism.
Investment banking looking up? Barclays first-quarter earnings beat expectations, reflecting stronger investment banking results and improving credit quality.
U.S. banker admits to corruption in China A former Morgan Stanley real estate executive in China has pleaded guilty to secretly acquiring millions of dollars’ worth of property investments for himself and a Chinese government official, according to the New York Times.
Euro zone issues haunt big banks Quarterly earnings from some of Europe’s top banks reveal the toll of the euro zone crisis, with big losses on Spanish property and fragile markets casting a shadow over the rest of the year despite an early investment banking rebound.