A Bay street sign is seen in Toronto’s financial district.Mark Blinch/The Globe and Mail
Deflating the 'hope rally'
The turmoil engulfing the White House rattled the world's financial markets on Wednesday, leaving investors to question whether markets can remain resilient to U.S. political turbulence. Story (Tim Shufelt)
Oil-field services M&A activity picks up as drillers seek lower costs
Canadian drillers and other oil-field service providers have stepped up merger and acquisition activity, with more deals expected in coming months, as players battered by more than two years of weak oil prices look to lower costs and strengthen finances by scaling up. Story
Lloyds' new era begins as British government sells off final shares
Britain has sold its last remaining stake in Lloyds Banking Group, making the lender the first to re-emerge from British state ownership in a symbolic step for the country's recovering banking sector. Story
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DAILY DEALS
Shanghai Pharmaceutical Holding Co Ltd said it may bid for Stada Arzneimittel AG - a move that would pit it against buyout firms Bain and Cinven which have made a joint offer of nearly $6-billion for the German generics drug maker. Story (Reuters)
A Tata Steel deal to separate its £15-billion ($19-billion) UK pension scheme still leaves many questions unanswered for a potential merger with Thyssenkrupp's European steel operations, a source close to Thyssenkrupp said. Story (Reuters)
ELSEWHERE IN FINANCE
VEB, a Russian state-run bank under scrutiny by U.S. investigators, financed a deal involving Donald Trump's onetime partner in a Toronto hotel tower at a key moment for the project, according to people familiar with the transaction. Story (WSJ, subscription required)
The Most Likely to Bubble Over distinction should go to a certain cryptocurrency that is quickly making its name and fortune: Bitcoin. Story (Bloomberg)