A look at some must-read news on deals and deal makers around the world
Potash Corp., the reaction
The general consensus in the business media is that this rejection of the BHP Billiton bid for Potash Corp. of Saskatchewan will change the world's view of Canada and its free-trading status.
Of course, Canadians may be alright with that given the mood in the country that we give away companies too easily. But if that's the case, Streetwise argues, let's clear up the rules so at least the reasoning behind government rulings to okay or reject transactions is clear to everybody -- investor, manager, bidder and citizen.
What are BHP's options at this point? Walk away, look for other deals or start buying back stock are among the likely outcomes, according to Reuters.
Meantime, for BHP Billiton chief executive officer Marius Kloppers, the speculation is beginning about his future as it appears he has failed to complete his three biggest deals as BHP boss. Reuters looks at that, as does the Sydney Morning Herald.
Traders take biggest pay hit
Things are slowing down in the securities business, and it's the traders who will feel it the most, Bloomberg News reports. However, things aren't so bad. All in all, pay is not going to reflect just how much things have cooled off in the industry, The New York Times finds in its analysis.
Is France looking the other way on bank risk?
BNP Paribas has grown into the world's largest bank as France has been slow to implement regulatory changes that have been designed to de-risk banks in other jurisdictions.