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Here are the top reads,

Energy sector: Enbridge Inc. is poised to blow past its target for asset sales this year, easing pressure on chief executive officer Al Monaco as he seeks to chop debt and simplify the company’s complex operations. Story (Jeff Lewis)

Pharmaceuticals: Canadian generic drug giant Apotex Inc. is shaking up its international footprint by merging its Australian business with that of a rival. Story (Tim Kiladze, for subscribers)

Financial: Sun Life Financial Inc.’s CEO Dean Connor is sitting on an influx of spare cash, but it isn’t burning a hole in his pocket. Story (Jacqueline Nelson, for subscribers)

Mortgages: Home Capital Group Inc. continued to rebuild its mortgage business in the first quarter of 2018, issuing nearly $1.2-billion in new home loans − a 33-per-cent increase from the prior quarter. Story (James Bradshaw)

Mortgages: It just got a little tougher to qualify for a mortgage in Canada. A rate used in mortgage stress tests – more formally known as the Bank of Canada’s conventional five-year mortgage rate – is now 5.34 per cent, up from 5.14 per cent. Story (Matt Lundy)

Equities: A new divergence has opened up in U.S. markets that may result in renewed selling pressure on sluggish Canadian bank stocks. Story (Scott Barlow, for subscribers)


American International Group Inc said shareholders approved a US$43.1 million pay package for 2017 for Chief Executive Officer Brian Duperreault during the company’s annual meeting on Wednesday. Story


Real-estate sector: The Canada Pension Plan Investment Board has signed a joint venture to purchase a prime office building in Seoul, South Korea. Story

E-commerce sector: Walmart Inc.’s deal to buy a controlling stake in India’s biggest online seller is meeting skepticism on Wall Street. Story

Telecom sector: Vodafone has agreed to pay US$21.8-billion to buy Liberty Global’s assets in Germany and eastern Europe to take on rivals with a broader range of superfast cable TV, broadband and mobile services. Story

International venture capital: If you want a new technology to succeed, getting the adult entertainment industry onboard as early adopters is never a bad thing. Cyprus-based blockchain company Decentralized Vision ended the private sale of its PumaPay project after raising US$117 million. VentureBeat

U.S. venture capital: Tailor Brands, a company that uses artificial intelligence (AI) to create company brands, has raised US$15.5 million in a series B round of funding led by Pitango Venture Capital Growth Fund and the U.K.’s Armat Group, with participation from Mangrove Capital Partners and Disruptive Technologies. VentureBeat

Fintech: BlackRock has bought a stake in Acorns, a startup that offers an app for ordinary savers, in a deal giving the world’s largest asset manager closer ties to the wealth management industry. Institutional Investor

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 24/05/24 4:00pm EDT.

SymbolName% changeLast
Enbridge Inc
American International Group
Sun Life Financial Inc

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